Pernod sells majority stake in Armagnacs
French drinks group Pernod Ricard has sold a majority share of Société des Produits d’Armagnac for an undisclosed amount.
The majority share was acquired by Cloudsweeper, an entity wholly owned by Alexander Stein, founder of ultra-premium gin brand Monkey 47. Pernod Ricard bought Monkey 47 in 2020.
Société des Produits d’Armagnac was established in the 1930s and is based in Eauze in France.
Its portfolio of Armagnac brands includes Marquis de Montesquiou and Comte de Lauvia.
Société des Produits d’Armagnac is present in markets such as France, the UK, Russia and the US, and has an ‘exceptional’ inventory of aged eaux-de-vie.
Pernod Ricard and Cloudsweeper intend to give both Armagnac brands a new development strategy in France and overseas. Pernod Ricard said it would support Stein in ‘leading these two brands to success’.
Most recently, Pernod Ricard and Stein collaborated to launch a habanero-infused Bourbon brand, called Horse with No Name.
Earlier this year, The Spirits Business took an in-depth look at the Armagnac category. Our findings found that while other spirits are ruled by huge brands and corporations, Armagnac producers are true independents, often with tiny teams – and their artisanal approach is paying dividends.