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French wine and spirits retailer Pernod Ricard has agreed to purchase The Whisky Exchange, a UK-based supplier of whiskies and fine spirits.

The Whisky Exchange has an online and physical presence, with 10,000 products in its catalogue.

The company was founded by brothers Sukhinder and Rajbir Singh in 1999.

It operates several award-winning shops in London and is also active in private sales and online auctions of rare spirits.

The acquisition is part of Pernod Ricard’s strategy to meet consumers’ needs and expectations amid the growth in e-commerce and increased demand for premiumisation.

The company plans to make use of The Whisky Exchange’s knowledge and in-house platforms, which include Drinks&Co and Bodeboca.

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Pernod Ricard chairman and CEO Alexandre Ricard said: “E-commerce is a key channel in our long-term strategy.

“We are thrilled to work with industry pioneers such as Sukhinder, Rajbir and the whole team to bring The Whisky Exchange to a new step of its development.”

Following the acquisition, The Whisky Exchange will operate with its existing team and structure.

The Singh brothers will continue to manage the business as joint managing directors.

The terms of the transaction have not been disclosed and its completion is subject to customary conditions being met.

Sukhinder and Rajbir Singh said: “After more than 20 years building The Whisky Exchange, we are delighted to be joining the Pernod Ricard family and working with them to take the business to the next level.

“The Whisky Exchange and our customers have always felt like a family, and we are looking forward to maintaining this ethos with a partner that shares our values.

“Our mission remains the same: to offer the finest range of whiskies and spirits from the best producers around the world, educate and engage with consumers, and support the top on-trade establishments around the UK.”