Pernod buys into bottled cocktail brand
The French subsidiary of Pernod Ricard has acquired a majority stake in ready-to-serve cocktail brand Cockorico for an undisclosed sum.
Cockorico was founded in Lyon, France, in 2019 by spirits and hospitality experts Marc Bonneton, Julien Maurel and Geoffroy Clavel. The brand is only sold in France.
Pernod Ricard France said the trio had created the leading brand in its home market for ready-to-serve cocktails, a ‘fast-growing category’ within the hospitality and events industries.
Bonneton, winner of Bacardi Legacy in 2011, said: “We are very excited about this strategic alliance in ready-to-serve. When we created Cockorico three years ago, we sought to make premium cocktails more widely available.
“Driven by a passion to create, we have been able to innovate to meet new expectations of our customers and consumers.”
Through Pernod Ricard’s distribution network, the brand will “accelerate” its development, Bonetton added.
Pernod Ricard France said the brand ‘addresses the growing demand for premium cocktails beyond the world of specialist cocktail bars’.
The Cockorico range of 700ml bottled cocktails includes the Old Fashioned, Negroni, Cosmopolitan and Mojito.
Philippe Coutin, chairman of Pernod Ricard France, said: “We are delighted to begin this partnership with Cockorico, which has experienced exceptional growth since its creation.
“We firmly believe that we will achieve even more together by leveraging both the strength of our distribution network and our expertise in ready-to-serve products.
“Our collaboration also opens up opportunities to develop new projects together through the combination of our highly complementary innovation capabilities.”
Last month, Pernod Ricard-owned Olmeca Altos launched ready-to-serve Altos Margarita Classic Lime.
Paris-headquartered Pernod Ricard recently invested US$22 million to install its first ready-to-drink canning line at the company’s plant in Arkansas, US.