PARIS and NEW YORK, Oct. 9,
2019 /PRNewswire/ -- Pernod Ricard (Euronext ticker RI; ISIN
Code: FR0000120693) and Castle Brands Inc. (NYSE American: ROX)
announced today the successful completion of the acquisition of
Castle Brands by a subsidiary of Pernod Ricard S.A., through a cash
tender offer followed by a short-form merger.
On this occasion Alexandre
Ricard, Chairman & Chief Executive Officer of Pernod
Ricard, stated:
"We're thrilled about the closing of the Castle Brands
acquisition and the opportunity it offers us in the world's largest
spirits market, the US, a priority market for the Group."
As previously announced, Pernod Ricard, through one of its
subsidiaries, offered to acquire all of the outstanding common
stock of Castle Brands for $1.27 per
share in cash, net of applicable withholding taxes and without
interest. The tender offer expired at Midnight, New York time, on October 8, 2019. A total of 150,335,952 shares of
common stock of Castle Brands, representing approximately 89.52% of
the outstanding Castle Brands shares, were validly tendered into
(and not validly withdrawn from) the tender offer. As of such
expiration, all conditions to the tender offer have been satisfied.
As a result, all such Castle Brands shares have been irrevocably
accepted by Pernod Ricard's subsidiary for payment, which will be
made on October 9, 2019.
Concurrently with the payment for the tendered shares, on
October 9, 2019 the offeror merged
with and into Castle Brands via a short-form merger. As a result of
the tender offer and the merger, Castle Brands became an indirect
wholly owned subsidiary of Pernod Ricard and Castle Brands' common
stock will cease trading on the NYSE American.
At the effective time of the merger, Castle Brands common stock
held by the remaining Castle Brands shareholders who did not tender
their shares in the tender offer (other than those who properly
exercise appraisal rights) were cancelled and converted into the
right to receive the same $1.27 per
share price, net of applicable withholding taxes and without
interest, that was paid in the tender offer. Castle Brands
shareholders who did not tender their shares in the tender offer
will receive relevant information in the mail on how to receive
payment for their shares in connection with the merger.
About Pernod Ricard
Pernod Ricard is the No.2
worldwide producer of wines and spirits with consolidated sales of
€9,182 million in FY19. Created in 1975 by the merger of Ricard and
Pernod, the Group has developed through organic growth and
acquisitions: Seagram (2001), Allied Domecq (2005) and
Vin&Sprit (2008). Pernod Ricard, which owns 16 of the Top 100
Spirits Brands, holds one of the most prestigious and comprehensive
brand portfolios in the industry, including: 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, Mumm and Perrier-Jouët
champagnes, as well Jacob's Creek, Brancott Estate, Campo Viejo, and Kenwood wines. Pernod Ricard's
brands are distributed across 160+ markets and by its own
salesforce in 73 markets. The Group's decentralised organisation
empowers its 19,000 employees to be true on-the-ground ambassadors
of its vision of "Créateurs de Convivialité." As reaffirmed by the
Group's three-year strategic plan, "Transform and Accelerate,"
deployed in 2018, Pernod Ricard's strategy focuses on investing in
long-term, profitable growth for all stakeholders. The Group
remains true to its three founding values: entrepreneurial spirit,
mutual trust, and a strong sense of ethics. As illustrated by the
2030 roadmap supporting the United Nations Sustainable Development
Goals (SDGs), "We bring good times from a good place." In
recognition of Pernod Ricard's strong commitment to sustainable
development and responsible consumption, it has received a Gold
rating from Ecovadis and is ranked No. 1 in the beverage sector in
Vigeo Eiris. Pernod Ricard is also a United Nation's Global Compact
LEAD company.
Pernod Ricard is listed on Euronext (Ticker: RI; ISIN Code:
FR0000120693) and is part of the CAC 40 index.
About Castle Brands
Castle Brands is a developer
and international marketer of premium and super-premium brands
including: Jefferson's®, Jefferson's Presidential SelectTM,
Jefferson's Reserve®, Jefferson's Ocean Aged at Sea Bourbon®,
Jefferson's Wine Finish Collection and Jefferson's Wood
Experiments, Goslings® Rums, Goslings® Stormy Ginger Beer, Knappogue Castle Whiskey®,
Clontarf® Irish Whiskey, Pallini® Limoncello, Boru® Vodka, Brady's®
Irish Cream, The Arran Malt® Single Malt Scotch Whisky, The Robert
Burns Scotch Whisky and Machrie Moor Scotch Whisky. Additional
information concerning the Company is available on the Company's
website, www.castlebrandsinc.com.
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SOURCE Pernod Ricard USA