NEXT LEVEL DEAL FOR WHISKY EXCHANGE

SPIRITS maker Pernod Ricard has agreed to buy The Whisky Exchange, the spirit shop with three stores in the heart of central London.

As well as branches in Covent Garden, Great Portland Street and London Bridge, The Whisky Exchange operates a popular online business that stocks some 4000 whisky, 700 rum and 600 gin brands. The firm is also known for online auctions of rare spirits.

The deal will help make French drinks group Pernod Ricard one of the sector’s largest online retailers. Pernod’s chairman and chief executive Alexandre Ricard said: “E-commerce is a key channel in our long term strategy.”

The Whisky Exchange was founded by brothers Sukhinder and Rajbir Singh in 1999, and they will be joint managing directors of that business under its new ownership. The pair said the deal will help take the company they started “to the next level”.

No price was given for the purchase.