29 Aug 2019 --- The world’s second-largest distiller, Pernod Ricard, along with alcohol manufacturer and marketer Castle Brands Inc. have announced that they have entered into a definitive agreement. In the deal, a subsidiary of Pernod Ricard will acquire all of the outstanding common stock of Castle Brands for approximately US$223 million, plus the assumption of debt, through a cash tender offer followed by a merger. Pernod Ricard’s acquisition of Castle Brands’ products will expand Pernod Ricard’s line-up of premium brands, which the company says aligns with their consumer-centric strategy.