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Pernod Ricard Has Bought a Majority Stake in Craft Whiskey Maker Smooth Ambler

Photo courtesy Fortune

Photo courtesy Fortune

“Absolut vodka and Jameson whiskey maker Pernod Ricard has agreed to buy a majority stake in a West Virginia craft whiskey distiller, the latest bet by a big alcohol producer to invest in a smaller rival.

The French beverage giant—the world’s second-largest liquor producer after Diageo—on Thursday announced that a subsidiary has invested in Smooth Ambler Spirits Co., an award-winning maker of brands including Smooth Ambler Contradiction Bourbon and Old Scout Single Barrel Bourbon. The deal is expected to close early in 2017.”

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Pernod Ricard Has Bought a Majority Stake in Craft Whiskey Maker Smooth Ambler