Key Highlights:
- Pernod Ricard, a leading alcohol company, has established a new business unit focusing on its whiskey operations in the U.S.
- Richard Black, with over 23 years of experience in Pernod Ricard’s whiskey and cognac operations, has been appointed as the CEO of North American Distillers.
- The move follows significant investments in the American whiskey category and aligns with Pernod Ricard’s growth ambitions.
Insights:
Based in France, Pernod Ricard has a strong presence in the U.S. market, with popular brands like Absolut Vodka and Kahlúa. The formation of the new company aims to enhance competitiveness in the American whiskey sector, competing with industry giants such as Diageo and Suntory.
Previously integrated into its diverse spirits portfolio, Pernod Ricard’s American whiskey brands will now operate under a dedicated unit within the company.
The company’s recent investments in American whiskey brands like Jefferson’s, Rabbit Hole, and others illustrate a strategic focus on expanding its presence in this segment, alongside its ownership of European whiskey brands.
Richard Black, previously serving as the global marketing director for Martell, highlights the growth potential of the whiskey market as a driving force behind the new company formation, aiming to elevate Pernod Ricard’s brands and operations.
As consumer preferences evolve and competition within the alcohol industry intensifies, major players like Pernod Ricard are diversifying their portfolios and targeting niche markets. The spirits category is projected to grow significantly, prompting companies to explore new opportunities such as Molson Coors’ venture into premium bourbon and Pernod Ricard’s expansion into ready-to-drink cocktails.