Pernod Ricard Is Said to Acquire Stake in Abasolo Mexican Whisky
Pernod Ricard Is Said to Acquire Stake in Abasolo Mexican Whisky
(Bloomberg) -- Pernod Ricard SA is acquiring a minority stake in Mexican whisky Abasolo from spirits producer Casa Lumbre, according to people familiar with the matter.
A deal, which would mark Pernod Ricard’s second agreement with Casa Lumbre after acquiring a minority stake in its Ojo de Tigre mezcal last year, could be announced as early as Tuesday, said the people, who asked not to be identified as the information is private.
A spokesman for Pernod Ricard declined to comment.
Alexandre Ricard, the distiller’s chief executive officer, has focused the company’s acquisition strategy on fast-growing, small-batch liquor to keep up its sales momentum. Last quarter, the company beat earnings expectations thanks to demand for major labels like its Aberlour and Glenlivet Scotch whiskies as well as recently acquired upstarts such as Avion tequila and Malfy flavored gin. In September, Pernod Ricard bought the Whisky Exchange, one of the industry’s largest e-commerce businesses.
In 2019, Aperol maker Davide Campari-Milano NV acquired a controlling stake in two Casa Lumbre brands: Montelobos mezcal and Ancho Reyes chili liqueur.
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