Debevoise & Plimpton LLP is advising Pernod Ricard (Euronext: RI) in its $223 million acquisition of Castle Brands Inc. (NYSE American: ROX). Pernod Ricard, through its subsidiary, will acquire all of the outstanding common stock of Castle Brands for $1.27 per share in cash, or approximately $223 million, plus the assumption of debt, through a cash tender offer followed by a merger. The transaction is expected to close in the fourth quarter of 2019. For more information, please see the press release.
Pernod Ricard is the number two worldwide producer of wines and spirits, holding one of the most prestigious brand portfolios in the sector. Castle Brands is a developer and international marketer of premium and super-premium drinks brands, including Jefferson’s Bourbon and Gosling’s Rum.
The Debevoise team is led by M&A partner Paul Bird and includes tax partners Cécile Beurrier and Gary Friedman, employee benefits counsel Michael Snypes Jr., IP counsel Judith Church, M&A associates James Harrington, Andrew Jamieson, Ashtyn Ka and Joel Salomon, tax associates Lillian Aston and Robert Nelson-Sullivan, and employee benefits associate Wendy Widman.
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