Pernod Ricard consults with Cleary on the $486 million sale of their Indian whiskey brand
Cyril Amarchand Mangaldas Advises Pernod Ricard in the Sale of Imperial Blue Whisky Brand
In a significant deal, Cyril Amarchand Mangaldas (CAM) has been appointed as the legal advisor for Pernod Ricard in the sale of the Imperial Blue whisky brand to Tilaknagar Industries. The CAM team leading the transaction included Senior Partner Akila Agrawal, Partner Mukul Sharma, and Partner Neham Tayal, with support from several associates.
The team provided comprehensive end-to-end legal support, including intellectual property, finance, and competition law aspects. Swati Sharma and Revanta Mathur led the intellectual property team, while the financing team was led by Pranav Sharma and Meeta Kurpad. Vijay Chauhan led the competition law team, and Bishen Jeswant headed the employment law team for the deal.
On the other hand, Tilaknagar Industries was advised by Crawford Bayley & Co, with Cleary Gottlieb Steen Hamilton also involved as an international law firm advising Pernod Ricard India. The WS Kane & Co advised on IP issues related to the sale.
Cleary Gottlieb Steen & Hamilton and Cyril Amarchand Mangaldas represented Pernod Ricard in the sale of its Imperial Blue whisky brand to Tilaknagar Industries for an enterprise value of 412.6 million euros ($486 million). The sale of the Imperial Blue brand includes a 28-million-euro deferred payment due four years after the deal closes.
However, it is worth noting that the CAM team did not advise on any specific legal aspects related to the sale of 22.4 million 9 litre cases of Imperial Blue whisky in the fiscal year ended March 2025. The WS Kane team did not provide details on the legal aspects they advised on in the Pernod Ricard deal.
Reuters reported that Pernod Ricard has been streamlining its business and focusing on its core portfolio of pricey, global brands amid a sector-wide downturn in sales. The sale of the Imperial Blue brand is part of this strategy, as the brand is not a significant contributor to Pernod Ricard's overall sales.
The sale is expected to close in the second half of 2025, subject to regulatory approvals and other customary closing conditions. Once completed, Tilaknagar Industries will become the owner of the Imperial Blue brand, one of India's leading whisky brands.
- The sale of Imperial Blue whisky brand from Pernod Ricard to Tilaknagar Industries was advised by Cyril Amarchand Mangaldas (CAM), with specific legal support provided in intellectual property, finance, competition law, and employment law.
- The team at WS Kane & Co provided intellectual property advice to all parties involved in the sale of the Imperial Blue brand, while the financing team was led by Pranav Sharma and Meeta Kurpad from CAM.
- The sale of the Imperial Blue brand signifies Pernod Ricard's ongoing strategy to focus on its core portfolio of high-end brands, as the brand is not a significant contributor to its overall sales.
