Pernod Ricard completes mezcal acquisition
Pernod Ricard US has completed its acquisition of single village mezcal brand Del Maguey – marking its first foray into the growing mezcal market.
The French drinks producer announced the deal in June of this year, with the company taking a majority share in Del Maguey Single Village Mezcal for an undisclosed sum.
Mezcal is an agave-based spirit produced outside of Jalisco in Mexico, and can therefore not be called Tequila. Typically, mezcal, while similar to Tequila, tends to have a smokier flavour profile.
Founded in 1995 by artist and “mezcal visionary” Ron Cooper, Del Maguey Single Village Mezcal is known for its artisanal mezcal, with each of the nine spirits in the range made from agave grown around a particular village in the Oaxaca region of Mexico.
The management team of Del Maguey – including Cooper, Michael Gardner and Steve Olsen – as well as its other teams and operations, will all remain in place.
Global mescal sales rose to US$80 million in 2015 according to International Wine & Spirits Research. Volumes in the US jumped 279% between 2005 and 2015.
The deal has been agreed by Pernod Ricard through Pernod Ricard USA’s New Brand Ventures division, which was formed in 2016 with the purpose of serving as an “incubation” division that the company said would “redefine how future growth brands are built”.