Wine and spirit company Pernod Ricard has announced that it has completed its acquisition of a majority stake in Del Maguey single-village mezcal.
It was reported in June that Pernod Ricard, which owns brands such as Absolut Vodka, Jameson Irish whiskey, Havana Club rum and Beefeater gin, was looking to acquire the Mexican spirit company, as global demand for mezcal rises.
Pernod Ricard is now the third major distiller to reach an agreement with a mescal producer, after Bacardi acquired a minority stake in Ilegal Mezcal in February and Diageo signed a distribution agreement with Mezcal Union in February 2016.
Del Maguey was founded in 1995 by Ron Cooper, and it is one of the largest brands in the category. Mezcal is made from the agave plant, and it is similar to tequila.
Pernod Ricard did not disclose any financial details of the acquisition.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.