Jameson Maker Announces $223M Acquisition

The acquisition is seen as a way for the company to be more competitive in the growing bourbon market.

Jameson Bottles (1)

Paris-based Pernod Ricard, the owner of Absolut Vodka and Jameson Irish Whiskey, has announced its $223 million acquisition of New York City-based Castle Brands. Included in the purchase are Brady's Irish Cream and Clontarf Irish Whiskey. The Jefferson's Bourbon brand is seen as the focal point of the deal, as Pernod Ricard looks to increase its presence in the growing U.S. bourbon market.

The French company recently reported is best earnings growth in seven years, and earlier this year announced plans to open its first malt whisky distillery in China. According to the research firm IWSR, U.S. whiskey sales jumped 8.7 percent last year volume and bourbon grew seven percent.