Through a subsidiary, Pernod Ricard
will acquire all of Castle Brands' shares for USD1.27 per share, a 92% premium to Castle Brands' closing price on Tuesday in New York.
Once the tender offer is successfully completed, Pernod Ricard
will acquire all shares not acquired in the tender offer through a second-step merger in which the holders of the outstanding shares of Castle Brands common stock not tendered in the offer will receive the same per share price paid in the tender offer, in cash.
announced Thursday it has signed an agreement to buy all outstanding shares of Castle Brands Inc (NYSE:ROX), the maker of Jefferson's bourbon whiskey, for $1.27 per share or $223 million in cash, plus the assumption of debt.
We will create a state-of-the-art working environment for our employees, embodying the Pernod Ricard
values of entrepreneurship, mutual trust and sense of ethics' concludes Bouhier.
Also, with this deal, Pernod Ricard
is again expanding its portfolio to include brands with unique and comprehensive value propositions.
The drink, "a non-alcoholic blend of carefully distilled dark spirits", is the brainchild of Craig Hutchison - the founder of Ceder's, the non-alcoholic spirit brand Pernod Ricard
brought to market last year.
The united effort is to mark Pernod Ricard
's annual Responsib'All Day.
As part of the big reveal, a special film that has been shot with 52 proud employees from Pernod Ricard
Spain to launch the new strategy.
Imperial Blue is the leading whisky brand for Pernod Ricard
India and the largest volume brand in Groupe Pernod Ricard
, selling over 20 million cases.
Together, Pernod Ricard
and BlackSheep developed an innovative connected glass, launched on July 10 at the Plaza Havana Club in Paris, the ephemeral meeting spot of Havana Club for the summer.
Water is a key ingredient in all of Pernod Ricard
's products and is the inspiration for the group to organize the cleanup.
France-based Pernod Ricard
Korea, which had its head office in Seocho-gu since entering the Korean market in 1992, had to move into Seoul Square next to Seoul Station last July after years of declining sales.