Pernod acquires majority stake in Avión TequilaBy Amy Hopkins
Pernod Ricard has completed its acquisition of a “significant” majority stake in Avión Spirits, owner of premium Tequila brand Avión.
Ultra-premium Avión joins super-premium Olmeca Altos in the French drinks group’s Tequila portfolio.
The acquisition follows a joint venture established between Pernod Ricard and Tequila Avión in 2011.
In July that year, Pernod Ricard took a minority equity interest in Tequila Avión and signed a global distribution agreement.
Pernod Ricard has now taken its 20% minority stake in Avión Spirits up to 84%.
The group stated that it is “confident” in Avión’s ability to aid its growth in the US, the world’s largest market for Tequila and the largest market for Pernod’s own brands.
“Avión is an important brand in Pernod Ricard USA’s portfolio and we have great confidence in its future,” said Bryan Fry, CEO of Pernod Ricard USA.
“With our increase in ownership we are pleased to further strengthen this partnership to continue to build a successful brand in the years ahead.”
Described as a small batch, ultra-premium Tequila, Avión was founded by Ken Austin and is produced with the Lopez family, a fifth generation agave grower.
The brand is available in Silver, Reposado, Añejo and Espresso Liqueur variants, as well as limited edition Avión Reserva 44.
“With this move, Pernod Ricard is displaying significant confidence in Avión and the role it will play in bolstering their position in the United States and beyond,” said Austin, who is also chairman of Tequila Avian.
“The Pernod Ricard people, their distributors and brokers, their route to market strategy and entrepreneurial spirit have been and will continue to be key drivers in taking Avión to the next level.”