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Pernod completes Del Maguey acquisition
Pernod Ricard has completed its acquisition of a majority stake in Del Maguey Single Village Mezcal for an undisclosed sum.
Pernod Ricard has acquired a majority stake in Del Maguey Single Village Mezcal
It was revealed in June this year that Pernod Ricard had moved into mezcal with the purchase of a majority stake in the brand.
Del Maguey was established in 1995 by Cooper, an artist and entrepreneur, and comprises a range of super-premium, hand-crafted mezcals from Oaxaca.
Produced using Zapotec processes, the ‘Single Village’ name references the place where each expression is made.
The Del Maguey management team, including founder Ron Cooper as well as Michael Gardner and Steve Olson, will remain in place, along with existing operations.
Speaking to The Spirits Business last month, Jeff Agdern, senior vice-president at Pernod Ricard’s New Brand Ventures division, which made the investment, said: “Mezcal is a small but growing and exciting category in the US and has been on our radar for a long time. I don’t think you could find a more authentic brand and story than Del Maguey.”
Pernod Ricard says the only immediate change for Del Maguey will be to widen the brand’s distribution network.
According to Euromonitor figures, mezcal is one of the fastest growing categories in the US. Between 2010 and 2015, Tequila and mezcal grew 30% by volume in the market – more than any other alcohol category bar Cognac – and faster than the global average, which sits at 22%.