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dcbt

Pernod Ricard buys Castle Brands at huge premium...

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dcbt
Posted (edited)

https://seekingalpha.com/news/3495475-pernod-ricard-buys-castle-brands-223m-deal?ifp=1

 

Castle Brands (NYSEMKT:ROX) +83.2% after-hours on news it agreed to be acquired by Pernod Ricard (OTCPK:PDRDF) for $1.27/share in cash, or ~$223M.

 

Under the deal terms, ROX shareholders would receive $1.27 for each outstanding share they own, representing a 92% premium to the Aug. 27 closing price and a 109% premium to the 30-day volume weighted average share price.

 

Pernod Ricard says the deal adds Jefferson's bourbon whiskey to its brand portfolio and will strengthen its position in the U.S.

Edited by dcbt

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Richnimrod

Hmmmm.   Does anyone know offhand, what if any, other brands are included in this purchase.   

Jefferson's used to offer some good quality and interesting Bourbons; many at somewhat reasonable rates even, though not recently.   

Lately the only stuff coming from them, IMO, has been over-priced, over-hyped and rather ordinary stuff in various faux finishes and barrel treatments (sloshing around on a barge at sea for a little while....).

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dcbt
17 hours ago, Richnimrod said:

 Does anyone know offhand, what if any, other brands are included in this purchase.   

 

Not sure about this specific purchase, but they also recently bought Rabbit Hole and TX.

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wadewood

Pernod sold WT at the worse possible time.  Sell low buy high does not make for a great company

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lcpfratn
Hmmmm.   Does anyone know offhand, what if any, other brands are included in this purchase.   
Jefferson's used to offer some good quality and interesting Bourbons; many at somewhat reasonable rates even, though not recently.   
Lately the only stuff coming from them, IMO, has been over-priced, over-hyped and rather ordinary stuff in various faux finishes and barrel treatments (sloshing around on a barge at sea for a little while....).

Castle Brands includes Jefferson’s Bourbon, Arran Scotch Whisky, Goslings Rum, Goslings Ginger Beer, Knappogue Castle Irish Whiskey and several other lesser known (at least to me) brands.
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