Pernod Ricard finalises partnership with Château Sainte Marguerite
Pernod Ricard, the world’s second largest seller of wines and spirits, and Provence’s Château Sainte Marguerite celebrated finalising their partnership last week at Pernod Ricard HQ The Island.
The drinks giant reached an agreement to acquire a majority stake in Château Sainte Marguerite in March, with the transaction due to be completed in the months following.
Under the ownership of the Fayard family since 1977, the Provençal estate received cru classé designation in 1955, and is now one of 18 cru classés in Côtes de Provence. Sainte Marguerite is known for its premium rosé, made from a blend of Grenache and Cinsault.
Since 1977, the Sainte Marguerite vineyard has expanded significantly, today encompassing nearly 200 hectares in the Côtes-de-Provence AOC. The parcels situated in the prestigious coastal terroir of La Londe overlook the three islands known as the Iles d’Or.
The move comes as the drinks giant looks to focus on growing its premium wine division. Pernod Ricard is the number two worldwide producer of wines and spirits, with consolidated sales amounting to €10,701 million in fiscal year FY22.
Olivier Fayard will lead operations.
Jean-Pierre Fayard, the family patriarch, commented that it marked “a milestone in development…thanks to the expertise of Pernod Ricard and its incredible distribution network”.
In October Pernod Ricard saw first quarter sales grow by 22%, totalling €3,308 million, and expects “dynamic” sales to continue throughout 2023.
The results, which were “strong” in the US, its top market, thanks to price increases, as well as in China and India and also marked as a continued rebound in global travel retail (GTR). In Europe, it’s “dynamism” had been enhanced by the tourist season supporting the on-trade sector. Read more on that story here.