Monday, March 27, 2023

Pernod Ricard deepens partnership with Sovereign Brands

Pernod Ricard is to significantly increase its minority stake in Sovereign Brands’ portfolio of super premium wine and spirits brands, strengthening the long-term partnership initiated in September 2021.

Sovereign Brands is a family company founded by brothers Brett and Brian Berish. It is currently one of the fastest-growing companies in the beverage alcohol industry.

Over the last 12 months, and in the frame of their long term partnership, Pernod Ricard and Sovereign Brands have significantly accelerated the growth of Sovereign’s brand portfolio including French super-premium sparkling wine Luc Belaire (circa 1 million 9L cases in 2021), a range of Caribbean rums sold under the Bumbu brand (circa 300K 9L cases in 2021), the Brazilian gin McQueen and the Violet Fog and the French liqueur Villon.

Both companies have also initiated a number of joint incubation projects, with an initial brand planned for a full scale launch in the coming months.

Pernod Ricard says this additional investment is in line with its strategic plan Transform & Accelerate and reflects its ambition to further enhance its consumer-centric portfolio development and invest in anticipated growth categories.

Closing, which is expected to occur in November 2022, remains subject to fullfilment of customary closing conditions, including regulatory clearances.

“Our partnership with Sovereign Brands has already proven to be very successful, with brands such as Bumbu and Luc Belaire now reaching an ever growing number of consumers in the US and abroad. I believe we are perfectly matched as two consumer-centric companies with a shared commitment of creativity, innovation and brand building,” says Alexandre Ricard, chairman and CEO of Pernod Ricard.

Brett Berish, CEO of Sovereign Brands, says: “In the year since we first announced our partnership with Pernod Ricard, everything that we could have hoped for from the relationship has come to pass. With the upcoming launch of our innovative first joint brands together, it’s the perfect time to deepen our partnership.”

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