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Pernod Ricard signs Avión deal
Pernod Ricard has signed an exclusive global distribution agreement with ultra-premium Tequila brand Avión.
As part of the joint venture arrangement, the French drinks group will take a minority interest in the Tequila Avión company, which was founded in 2009.
The Tequila itself was launched in July 2010 and has already enjoyed strong growth across the high-end bar scene in the US.
Commenting on the transaction, Pierre Pringuet, Pernod Ricard’s chief executive officer, said: “I’m thrilled about the addition of this high-end tequila to our portfolio.
“This transaction illustrates Pernod Ricard’s will to seize new growth opportunities while maintaining its priority of deleveraging.â€
Avión is produced by fifth generation agave growers from Blue Weber agave found in the highest regions of Jalisco, Mexico, and is available in Silver, Reposado and Anejo varieties.
The transaction expands Pernod Ricard’s Tequila portfolio to three brands, with the group already distributing Olmeca and Viuda de Romero.