Pernod Ricard has on Monday announced the signing of an agreement to take a majority stake in Código 1530 tequila, a range of ultra-premium and prestige tequila.
The latest investment into the fast-growing agave category would complement the group’s comprehensive portfolio across price points and occasions, Pernod Ricard said.
Founded in 2016 by Ron Snyder, Federico Vaughan and George Strait, Código 1530 tequila has positioned itself within a very competitive category, thanks to the unique quality proposition of its range of ultra-premium (Blanco, Rosa and Reposado) and prestige products (Añejo, Barrel Strength Añejo and Origen Extra Añejo).
Produced in the Mexican state of Jalisco using a private recipe known for generations by only a select group of families and jimadors, Código is already available in the US, and the brand is at the early stage of its international development with a presence in over 30 markets.
“Our goal for Código has always been to produce and share the best possible tequila. What started as simply enjoying our tasty tequila with friends in Mexico, quickly grew into an aspiration to share Código with discerning consumers around the world,” Ron Snyder said.
“To gain the backing of Pernod Ricard is a powerful alliance, and a logical progression that will benefit consumers with an expanded reach through our collaborative growth. We look forward to working closely with Alex (Ricard, chairman and CEO of Pernod Ricard), Ann (Mukherjee, CEO of Pernod Ricard USA) and the Pernod Ricard team as we build our brand globally.”
Through this partnership, Pernod Ricard is expanding and diversifying the value proposition of its portfolio of tequila brands, which already includes Olmeca, Altos and Avion. The group is also adding two new Mezcal references (Código Mezcal Artesanal and Código Mezcal Ancestral) to its market leading Mezcal portfolio built around the Del Maguey and Ojo de Tigre brands.
The strengthening of the agave portfolio follows the group’s recent investment in the sotol category through its acquisition of a minority stake in the ultra-premium Nocheluna brand.
Alexandre Ricard, chairman and chief executive of Pernod Ricard, said: “Código’s range of exquisite tequilas reinforces our offer of ultra premium+ agave products in the US, where the category is enjoying a very strong momentum. It is a privilege to partner with Ron Snyder, Federico Vaughan and George Strait with whom we share a common vision for Código 1530 and common ambition to strongly accelerate and strengthen the success of the brand.”
