Pernod Ricard announced this morning that it has signed a joint venture agreement with Tequila Avion "for the purpose of producing and promoting the ultra-premium tequila brand." Pernod will hold a minority interest in the j-v and will be the exclusive worldwide distributor of Avion, which was founded in 2010. You can read our interview with founder and chairman Ken Austin here: http://www.winespiritsdaily.com/publications_daily.php?id=1270
Commenting on this transaction, Pernod chief Pierre Pringuet stated: "I'm thrilled about the addition of this high-end tequila to our portfolio. This transaction illustrates Pernod Ricard's will to seize new growth opportunities while maintaining its priority of deleveraging." Details of the transaction were not given.
Until later, Megan
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