PERNOD RICARD S A SP/ADR - PRNDY STOCK NEWS

Pernod Ricard (Euronext: RI) announced a significant increase in its minority stake in Sovereign Brands, enhancing their long-term partnership initiated in September 2021. This transaction will allow Pernod Ricard to fully consolidate Sovereign Brands into its financial statements, with expectations of a +3% accretive effect on its profit from recurring operations. The partnership has already accelerated the growth of Sovereign’s brand portfolio, including Luc Belaire and Bumbu, and plans a new brand launch soon. The deal's closing is anticipated in November 2022, pending regulatory approvals.

Pernod Ricard announces its collaboration with Casa Lumbre and Lenny Kravitz to launch Nocheluna Sotol, a premium spirit from Mexico's Chihuahuan Desert. Nocheluna aims to set a standard in the emerging Sotol category, distinguished by its unique flavor profile derived from the wild Dasylirion plant. The global launch begins in the U.S. market. Pernod Ricard, the world’s second-largest wine and spirits producer, emphasizes innovation and craftsmanship in their products, seeking to introduce authentic spirits to new consumers.

Pernod Ricard has announced the creation of a new business unit designed to expand its direct-to-consumer and niche B2B segments. Effective November 2, 2022, this unit will incorporate The Whisky Exchange, Drinks & Co, and Bodeboca, focusing on innovative products and exceptional consumer experiences. Nicolas Oudinot has been appointed CEO, bringing 20 years of luxury and digital expertise. This initiative aligns with Pernod Ricard's Transform & Accelerate strategy and aims to leverage growing demand for premium products and e-commerce in the spirits industry.

Pernod Ricard USA, along with Republic National Distributing Company (RNDC), announced a $25,000 donation to the Kentucky Distillers' Association to assist flood relief efforts in Kentucky, honoring National Bourbon Heritage Month. The donation follows severe flooding that displaced thousands and impacted homes and businesses. Pernod Ricard emphasizes its commitment to supporting the bourbon-producing region and acknowledges the contributions of Kentucky to its whiskey portfolio. The funds aim to help restore the communities affected by the disaster.

Pernod Ricard USA has launched the Olmeca Altos Margarita Classic Lime, a ready-to-serve cocktail aimed at enhancing at-home drinking experiences. This product features premium ingredients including Olmeca Altos Plata Tequila and natural lime flavor, retailing at $19.99 for a 750mL bottle. The drink embodies the brand’s commitment to quality and has been recognized as the best tequila for margaritas for three consecutive years. The integrated campaign 'It Takes Two to Altos' reflects the brand's philosophy of celebrating moments with cocktails.

Pernod Ricard and JCDecaux have launched the Data Portal, a digital partnership aimed at enhancing data management. This platform allows the centralization and easy access to data across their global entities, aiding in commercial strategy development. The initiative began in 2020 and is part of both companies' drive for digital transformation. The Data Portal is developed by Pernod Ricard's Data Center of Excellence team and is available for free to both companies, promoting collaboration without data exchange.

The Irish Distillers has announced a significant €250 million investment to establish a new distillery in Midleton, Cork, expected to commence operations in 2025. This project aims to enhance production capacity for renowned brands like Jameson and Redbreast, creating approximately 100 skilled jobs and 800 construction jobs. The distillery will utilize innovative MVR technology for carbon neutrality and contribute to local biodiversity efforts. This investment reflects Irish Distillers' commitment to sustainability and the growing global demand for Irish whiskey.

Pernod Ricard reported record sales of €10,701m for FY22, achieving a 17% organic growth and a 21% reported increase, aided by favorable FX impacts. Growth was double-digit across all regions, with strong performances in North America (+12%) and Latin America (+dynamic growth). Specialty Brands showed a remarkable +24% growth. The company also achieved a profit from recurring operations of €3,024m, up 32% from FY21. The proposed dividend of €4.12 represents a 32% increase. Looking ahead, Pernod Ricard anticipates dynamic, broad-based net sales growth for FY23.