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Pernod Ricard Sells a Majority Stake in Societe Des Produits d’Armagnac (SPA) to Alexander Stein
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Pernod Ricard has successfully completed the sale of a majority stake in Société des Produits d’Armagnac (SPA) to Cloudsweeper GmbH, owned by entrepreneur Alexander Stein. This strategic move aims to enhance SPA's Armagnac brands, Marquis de Montesquiou and Comte de Lauvia, leveraging new development strategies amid a recovering Armagnac market. Pernod Ricard, recognized as a key global player in wines and spirits with €8,824 million in sales for FY21, will support the growth of these brands through this partnership.
Positive
Sale of majority stake in SPA provides new growth opportunities for Armagnac brands.
Partnership with Alexander Stein expected to enhance brand development strategies.
Negative
None.
PARIS--(BUSINESS WIRE)--
Regulatory News:
Press Release – Paris, 2 December 2021
Pernod Ricard(Paris:RI) completed today the sale of a majority stake in Société des Produits d’Armagnac (SPA) to Cloudsweeper GmbH, an entity wholly owned by entrepreneur Alexander Stein.
Created in the 1930s and based in Eauze – considered the capital of Armagnac – in the Southwest of France, SPA owns Armagnac brands Marquis de Montesquiou and Comte de Lauvia. SPA has an established position within major Armagnac markets such as France, the United Kingdom, Russia and the United States, and has an exceptional inventory of aged eaux-de-vie.
Alexander Stein is a recognized innovator in the spirit industry. He has built a long-standing and strong relationship with Pernod Ricard through the ultra-premium gin brand Monkey 47, which was fully acquired by Pernod Ricard in 2020. Both partners recently launched the bourbon infused with habanero Horse with No Name.
This operation should contribute to the growth of Marquis de Montesquiou and Comte de Lauvia brands by providing them with a new development strategy in France and abroad at a moment when the sales of Armagnac are recovering quickly. As member of this partnership, Pernod Ricard will support Alexander Stein in leading these two brands to success.
About Pernod Ricard Pernod Ricard is the No.2 worldwide producer of wines and spirits with consolidated sales amounting to €8,824 million in fiscal year FY21. The Group, which owns 16 of the Top 100 Spirits Brands, holds one of the most prestigious and comprehensive portfolio in the industry with over 240 premium brands distributed across more than 160 markets. Pernod Ricard’s portfolio includes Absolut Vodka, Ricard pastis, Ballantine’s, Chivas Regal, Royal Salute, and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Malibu liqueur, Mumm and Perrier-Jouët champagnes, as well Jacob’s Creek, Brancott Estate, Campo Viejo, and Kenwood wines. Pernod Ricard’s strategy focuses on investing in long-term and sustainable growth for all its stakeholders, remaining true to its founding values: entrepreneurial spirit, mutual trust, and strong sense of ethics. The Group’s decentralised organisation empowers its 18,500 employees to be on-the-ground ambassadors of its vision of “Créateurs de Convivialité”. Pernod Ricard 2030 Sustainability and Responsibility roadmap “Good Times from a Good Place” is integrated into all its activities from grain to glass, and Pernod Ricard is recognised as a UN Global Compact LEAD participant for its contribution to the United Nations Sustainable Development Goals (SDGs). Pernod Ricard is listed on Euronext (Ticker: RI; ISIN Code: FR0000120693) and is part of the CAC 40 and Eurostoxx 50 indices.
