Pernod Ricard has completed the sale of a majority stake in Société des Produits d’Armagnac (SPA) to Cloudsweeper GmbH, an entity wholly owned by entrepreneur Alexander Stein.
SPA owns Armagnac brands Marquis de Montesquiou and Comte de Lauvia.
The acquisition will contribute to the growth of both brands by providing them with a new development strategy in France and abroad at a time when the sales of Armagnac are recovering quickly, the drinks giant said.
Strong Relationship With Pernod Ricard
Alexander Stein has built a long-standing and strong relationship with Pernod Ricard, the company said.
In 2020, Pernod Ricard acquired full ownership of the premium gin brand Monkey 47, founded by Stein.
Recently, both partners launched Horse with No Name – a bourbon infused with habanero.
SPA, with a broad inventory of aged eaux-de-vie, has established its position within major Armagnac markets such as France, the United Kingdom, Russia, and the United States.
The company was established in the 1930s and is based in Eauze, which is considered the capital of Armagnac in the Southwest of France.
In October, Pernod Ricard said it expected good sales growth to continue through its 2022 fiscal year, after strong demand in China, the United States and India helped it deliver a forecast-beating 20% growth in the first quarter.