Pernod buys 34% stake in Myanmar whisky joint venture

French drinks group Pernod Ricard has completed its acquisition of a 34% stake in Seagram MM Holdings, a joint venture designed to produce and distribute whisky in Myanmar.

Pernod Ricard is the majority shareholder of a Myanmar whisky joint venture

Seagram MM Holdings is a joint venture between Yoma Strategic, the Win Brothers and Delta Capital Myanmar.

It is the holding company of Seagram Myanmar Company, a subsidiary of Seagram’s whisky brands, Seagram High Class and Seagram Imperial Blue.

Pernod Ricard revealed plans to become a joint venture partner with Yoma Strategic in May last year, a move that made it the first major international wine and spirits producer to enter Myanmar.

Following the group’s acquisition Yoma Strategic now owns 19.8% of the joint venture, each of the Win Brothers – U Htun Win and U Zaw Win – now hold a 33% share, and Delta Capital Myanmar has a 13.2% share.

The financial terms of the deal were not disclosed.