The French beverage company Pernod Ricard, which is the owner of Malibu rum liqueur and Jameson whiskey, has invested in Almave.
The world’s largest spirits company, Pernod Ricard, has invested in Lewis Hamilton’s non-alcoholic tequila substitute.
It happened as the French beverage company, which is the owner of Malibu rum liqueur and Jameson whiskey, revealed a minor decline in sales over the previous 12 months. On Thursday, the business notified stakeholders of its acquisition of a minority stake in Almave, which was only last year co-founded by Formula One legend Lewis Hamilton, Casa Lumbre, and investment group Copper.
Pernod Ricard sees this new venture as tapping into the growing demand for authentic tequila-flavored experiences and aligning with the booming interest in booze-free beverages, despite not disclosing the financial details of the deal.
Lewis Hamilton, a Formula One champion, stated: “It was important to me to find partners who could help me realise my vision without compromising when I decided to embark on this project.” I’m glad we were able to accomplish that, using real ingredients and tried-and-true methods in addition to quality and flavor.”
“We are thrilled that Pernod Ricard has officially joined Almave as a stakeholder. This will enable us to fully realize the potential of the upcoming phase of our journey and spread awareness of Almave to a wider global audience.”
Pernod Ricard is placing its money on Almave to profit from the growing consumer demand for authentic alcohol substitutes, such as tequila. This deal demonstrates Pernod Ricard’s expanding line of non-alcoholic options, which began with a successful strategic play in 2021 when it acquired the majority of the alcohol-free brand Ceder’s.
“With Almave, Lewis Hamilton and Casa Lumbre have designed something that is truly exceptional in terms of quality, taste, and positioning,” stated Pernod Ricard CEO Alexandre Ricard. It is a true gem to have a non-alcoholic offering in our premium portfolio that fully honors the expertise and craftsmanship of its traditional distillation.”
The world’s largest alcohol company, best known for Beefeater gin and Absolut vodka, recently concluded its fiscal year, and business is “robust.” Over the following year, they anticipate an increase in sales.
However, for the year ending in June, net sales decreased by 1% to 11.6 billion euros (£9.7 billion), partially as a result of lower US consumer spending. A 5% decline in sales was also observed in Europe, in part due to Pernod Ricard’s decision to cease operations in Russia last year. However, Jameson, Ballantine’s, and Absolut saw strong sales throughout Europe.
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