Regulatory News:
Press Release Paris, 29 August 2024
Pernod Ricard (Paris:RI) today announces the acquisition of a minority stake in Almave, a Super Premium non-alc blue agave-based spirit brand, co-founded by Seven-Time Formula One World Champion, Lewis Hamilton, by Mexico-based innovation incubator Casa Lumbre and by the advisory and investment firm Copper.
Almave perfectly satisfies the intersection between three accelerating global trends: tequila, non-alc products and the desire for authenticity. A true passion project for the F1 champion, Almave was first envisioned by Lewis Hamilton who was seeking an authentic and 'rooted-in-the-land' alcohol-free alternative to his drink of choice: tequila. Almave is the first non-alcoholic Blue Agave spirit distilled in Jalisco (Mexico) and blends tradition and innovation to capture the very soul of the best raw materials possible, the Blue Agave, without the fermentation process. Almave is crafted around two expressions: Almave Blanco with its fruity green vegetal aroma, the perfect choice for mixing, and Almave Ámbar, ideal for both mixing and sipping, thanks to its rich and complex notes of cooked agave, caramel and vanilla
Pernod Ricard will bring their strong experience in brand building and global distribution to help scale this first-of-its-kind product to several markets throughout the world. The partnership will also add a complementary and innovative brand to Pernod Ricard's already comprehensive and premium agave spirits portfolio.
For Alexandre Ricard, Chairman and CEO of Pernod Ricard, "With Almave, Lewis Hamilton and Casa Lumbre have designed something that is truly exceptional in terms of quality, taste, and positioning. Agave is a highly sought-after category across the world. Having a non-alc proposition in our Premium portfolio that pays full tribute to the craft and savoir-faire of its traditional distillation makes it a true gem. I'm very excited to see Pernod Ricard support the development and fulfil the true potential of Almave
Lewis Hamilton: "When I decided to embark on this project it was important to me to find partners who could help me realize my vision without compromise. I am proud we were able to do that, not just in quality and taste but also with real ingredients and time-honoured techniques. Casa Lumbre has been best-in-class in the first part of this journey and I'm proud of what we have achieved together in such a small period of time. It's exciting that Pernod Ricard has, today, become an official stakeholder in Almave; allowing us to unleash the potential of the next stage of our journey, and help take Almave to even more people around the world."
Ivan Saldaña, Co-founder and Master distiller of Casa Lumbre: "Casa Lumbre is proud to continue its record of partnering with individuals and companies who can support our vision of representing Mexico's national spirit and plant in an authentic way beyond proof. Being able to achieve that type of faithful education to people in all corners of the world is a dream. Thanks to Pernod Ricard, it will soon become the global reference of this very innovative category".
About Pernod Ricard
Pernod Ricard is a worldwide leader in the spirits and wine industry, blending traditional craftsmanship, state-of-the-art brand-building, and global distribution technologies. Our prestigious portfolio of premium to luxury brands includes Absolut vodka, Ricard pastis, Ballantine's, Chivas Regal, Royal Salute, and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Malibu liqueur and Mumm and Perrier-Jouët champagnes. Our mission is to ensure the long-term development of our brands with full respect for people and the environment, while empowering our employees around the world to be ambassadors of our purposeful, inclusive, and responsible culture of authentic conviviality. Pernod Ricard's consolidated sales amounted to €11,598 million in fiscal year FY24.
Pernod Ricard is listed on Euronext (Ticker: RI; ISIN Code:FR0000120693) and is part of the CAC 40 and Eurostoxx 50 indices.
About Casa Lumbre
Born and based in Mexico, Casa Lumbre is a global spirits company that develops, produces, and incubates premium, award-winning spirits. Originally known for Mezcals, Liqueurs and Tequilas, Casa Lumbre continues to tap into its global values and perspective to expand beyond Mexican distillates.
Almave is the fourth collaboration between Pernod Ricard and Casa Lumbre after successful partnerships around Mexican spirits Abasolo Ancestral Corn Whisky, Ojo De Tigre mezcal and Nocheluna Sotol launched with musician, actor and designer Lenny Kravitz.
About Copper
Copper is a diversified advisory, ventures and investment firm that sits at the intersection of talent, commerce, and culture. Copper partners with the world's leading entrepreneurs, entertainers and athletes across their most meaningful moments, opportunities and transactions, acting as a catalyst for long-term value creation.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240829736834/en/
Contacts:
Pernod Ricard contact
Florence Tresarrieu Global SVP Investor Relations and Treasury
+33 (0) 1 70 93 17 03
Edward Mayle Investor Relation Director
+33 (0) 1 70 93 17 13
Emmanuel Vouin Head of External Engagement
+33 (0) 1 70 93 16 34
Casa Lumbre contact
Lindsay Prociw President Managing Director
l.prociw@casalumbre.com
