Pernod Ricard to acquire a majority stake in Skrewball, a super-premium and fast-growing flavored whiskey

Press Release 21/03/2023

Pernod Ricard USA announced today the signing of an agreement for the acquisition of a majority stake in Skrewball, the world’s first super-premium peanut butter flavored American whiskey.

Skrewball

Founded in 2018, by Steven and Brittany Yeng, Skrewball was the first peanut butter flavored whiskey that offers a smooth, nutty taste. The winning combination has since been established as a consumer favorite in the flavored whiskey category, with the brand surpassing the symbolic milestone of half-a-million nine-liter cases sold in 2022.  

The partnership adds a complementary brand to Pernod Ricard’s comprehensive portfolio of iconic spirits and wine brands and a perfect opportunity to continue building on its longstanding consumer centric and premiumization strategy. It comes on the back of the successful launch of Jameson Orange into the flavored whiskey category last year.

Flavored whiskeys appeal to a wide range of consumers, going beyond traditional whiskey lovers. It remains one of the fastest growing spirits categories in the US, representing a quarter of the overall whiskey sales in the world-leading market. While Skrewball tastes great when consumed straight or on the rocks, it also shines in premium craft cocktails and has quickly become a favorite with bartenders and mixologists across the US.

Skrewball has proven its uniqueness and success with a large audience, so we are delighted to have this brand as part of our portfolio” says Ann Mukherjee, Chairman and CEO of Pernod Ricard North America. “With a product that brings an iconic American flavor to the spirits world, Steven and Brittany have found a true point of difference in the category. We are looking forward to unlocking the magic of this brand and a successful journey ahead.

It’s overwhelming to see how far we’ve come with a ‘screwball’ idea and a dream,” declare Steven and Brittany Yeng. “We are very excited to see what the future holds for this brand under Pernod Ricard. The engine behind the company – its strategy, global reach and brand building expertise – will greatly support in taking the brand to new heights and we are excited to see it soar.”

Debevoise & Plimpton LLP acted as legal advisor to Pernod Ricard. Perella Weinberg Partners acted as financial advisor to Skrewball and the founders and Latham & Watkins LLP acted as their legal advisor.

 

About Skrewball Whiskey

Skrewball Whiskey was founded by Steven Yeng, a Cambodian refugee, and his wife Brittany, a former chemist who became a lawyer. Steven discovered his love of peanut butter shortly after arriving in the United States. Later, he began to integrate the quintessential, American nut butter into a top-selling cocktail at a bustling downtown Ocean Beach (San Diego) bar he ran. Seeing the popularity, Brittany would take Steven’s bestselling shot and help turn it into a shelf-stable whiskey with her chemistry background. Skrewball Peanut Butter Whiskey has won several awards, including the Best Flavored Whiskey award at the New York World Wine and Spirits Competition. The brand rapidly expanded in the US, Canada, and the Caribbean.  For more information, visit www.skrewballwhiskey.com.

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About pernod ricard

Pernod Ricard is a worldwide leader in the spirits and wine industry, blending traditional craftsmanship, state-of-the-art brand development, and global distribution technologies. Our prestigious portfolio of premium to luxury brands includes Absolut vodka, Ricard pastis, Ballantine’s, Chivas Regal, Royal Salute, and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Malibu liqueur and Mumm and Perrier-Jouët champagnes. Our mission is to ensure the long-term growth of our brands with full respect for people and the environment, while empowering our employees around the world to be ambassadors of our purposeful, inclusive and responsible culture of authentic conviviality. Pernod Ricard’s consolidated sales amounted to € 12,137 million in fiscal year FY23. Pernod Ricard is listed on Euronext (Ticker: RI; ISIN Code:FR0000120693) and is part of the CAC 40 and Eurostoxx 50 indices

Contacts Pernod Ricard

Florence Tresarrieu
Global SVP Investors Relations and Treasury
Tel: +33 (0) 1 70 93 17 03
Edward Mayle
Investor Relations Director
Tel: +33 (0) 1 70 93 17 13
Charly Montet
Investor Relations Manager
Tel: +33 (0) 1 70 93 17 13