Inbrew Beverages seeks US$200M to acquire Pernod Ricard’s Imperial Blue whisky
Inbrew plans to raise $200 million from private equity investors to fund its proposed purchase of Pernod Ricard’s Imperial Blue whisky.
INDIA – Inbrew Beverages is looking to raise at least US$200 million from private equity investors to support its proposed acquisition of Pernod Ricard’s Imperial Blue whisky, one of India’s top five whisky brands.
According to sources familiar with the matter, French liquor giant Pernod Ricard has been seeking a buyer for Imperial Blue since last year.
Inbrew is owned by Singapore-domiciled Inbrew Holdings Pte., whose ownership in turn is with Ahead Global Holdings – an investment firm controlled by Deol.
In addition to the planned US$200 million PE funding, Inbrew is likely to raise the remaining funding through bank financing, the people said. Deol is seeking to purchase Imperial Blue at an enterprise valuation of US$300 million to US$400 million.
Inbrew Beverages currently owns 43 spirit brands, including Bagpiper and White Mischief.
“Pernod Ricard regularly reviews strategic options for its development, including its brand, business portfolio. As a matter of policy, the company does not comment on market rumors or speculations,” Pernod Ricard told ET NOW.
Imperial Blue, a blend of Indian grain spirits and imported Scotch malts, was introduced in India in 1997 by Seagram, which was later acquired by Pernod Ricard in 2002.
Over the years, the brand has grown significantly and is now the French company’s largest whisky brand by volume.
In 2023, Imperial Blue sold 22.8 million nine-litre cases, making it Pernod Ricard’s second-best-selling Indian whisky after Royal Stag, according to Drinks International’s Millionaires’ Club.
Meanwhile, Inbrew Beverages reported a 9.73% decline in sales, totaling Rs 369.43 crore in the quarter ending December 2024, compared to Rs 409.23 crore in the same period in 2023.
The company’s net loss stood at Rs 0.89 crore for the quarter, a significant improvement from the Rs 20.40 crore loss recorded in December 2023.
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