Pernod Ricard purchases majority share in Tequila brand Avion Spirts
Pernod Ricard USA has acquired a majority stake in ultra-premium Tequila producer Avion Spirits from Tequila Avion in a move which will strengthen the company's American presence.
Pernod Ricard owns many well known aclohol brands
The move is indicative of Pernod Ricard’s confidence in the Avion brand and its significant growth potential and as part of the firm’s overall strategy to expand American sales.
Pernod Ricard was reportedly impressed with the rapid growth of the brand and the quality of the product. This comes two days after Pernod Ricard CMO stated his was unimpressed with his firms remuneration model.
Bryan Fry, CEO of Pernod Ricard USA, said: “[Avion] has become a bartender and consumer favourite and today benefits from very strong brand equity and momentum. Avion is an important brand in Pernod Ricard USA’s portfolio and we have great confidence in its future.
“With our increase in ownership we are pleased to further strengthen this partnership to continue to build a successful brand in years ahead.”
Ken Austin, founder and chairman of Tequila Avion, said: “This has continued to be a dream-come-true story. Avión has become a player in one of the most competitive industries and categories in the drinks business.
“While there is much work to be done, we are well on our way to become an iconic brand of the future. I am proud of our achievements especially being voted ‘World’s Best Tasting Tequila’ and ‘Best Tasting Unaged White Spirit at the San Francisco World Spirits Competition’."
He added: “The Pernod Ricard people, their distributors and brokers, their route to market strategy and entrepreneurial spirit have been and will continue to be key drivers in taking Avión to the next level.”
Pernod Ricard was created in 1975 after the merger of Pernod and Ricard.