The rox stock at https://www.webull.com/quote/amex-rox company develops and a market branded spirits in several growing market categories, including vodka, rum, whiskey and liqueurs, and distributes these spirits in all 50 U.S. states and the District of Columbia.
Pernod Ricard Completes Acquisition of Castle Brands
Pernod Ricard (Euronext ticker RI; ISIN code: FR0000120693) and Castle Brands Inc. (NYSE American: ROX) announced the successful completion of the acquisition of Castle Brands by a subsidiary of Pernod Ricard S.A., through a cash tender offer followed by a short-form merger.
On this occasion Alexandre Ricard, Chairman & Chief Executive Officer of Pernod Ricard, stated: “We’re thrilled about the closing of the Castle Brands acquisition and the opportunity it offers us in the world’s largest spirits market, the US, a priority market for the Group.”
As previously announced, Pernod Ricard, through one of its subsidiaries, offered to acquire all of the outstanding common stock of Castle Brands for $1.27 per share in cash, net of applicable withholding taxes and without interest. The tender offer expired at Midnight, New York time, on October 8, 2019.
Concurrently with the payment for the tendered shares, on October 9, 2019 the offeror merged with and into Castle Brands via a short-form merger. As a result of the tender offer and the merger, Castle Brands became an indirect wholly-owned subsidiary of Pernod Ricard and Castle Brands’ common stock will cease trading on the NYSE American.
At the effective time of the merger, Castle Brands common stock held by the remaining Castle Brands shareholders who did not tender their shares in the tender offer (other than those who properly exercise appraisal rights) was canceled and converted into the right to receive the same $1.27 per share price, net of applicable withholding taxes and without interest, that was paid in the tender offer. Castle Brands shareholders who did not tender their shares in the tender offer will receive relevant information in the mail on how to receive payment for their shares in connection with the merger.
About Pernod Ricard
Pernod Ricard is the No.2 worldwide producer of wines and spirits and owner of rox stock with consolidated sales of €9,182 million in FY19. Created in 1975 by the merger of Ricard and Pernod, the Group has developed through organic growth and acquisitions: Seagram (2001), Allied Domecq (2005), and Vin&Sprit (2008).
The Group remains true to its three founding values: entrepreneurial spirit, mutual trust, and a strong sense of ethics. As illustrated by the 2030 roadmap supporting the United Nations Sustainable Development Goals (SDGs), “We bring good times from a good place.” In recognition of Pernod Ricard’s strong commitment to sustainable development and responsible consumption, it has received a Gold rating from Ecovadis and is ranked No. 1 in the beverage sector in Vigeo Eiris. Pernod Ricard is also a United Nations Global Compact LEAD company. You can also check bapr news at https://www.webull.com/quote/bats-bapr .