Pernod Ricard has announced that it has acquired a minority stake in US-based wine and spirits company Sovereign Brands.
Founded by brothers Brett and Brian Berish, the family business boasts a portfolio of fast-growing super premium drinks, including Luc Belaire, a French sparkling wine, and Bumbu, a range of rum products from the Caribbean, Brazilian gin McQueen and the Violet Fog and Villon, an exquisite French liqueur.
Pernod Ricard said the investment will be a first step of a long term partnership aimed at creating business opportunities between the two companies in future, such as exploring potential common industrial and commercial projects.
“Sovereign Brands has demonstrated exceptional innovation and marketing skills. We are thrilled to partner with Brett and Brian Berish, two of the most innovative entrepreneurs of our industry,” commented Alexandre Ricard, chief executive of Pernod Ricard.
The agreement does not provide for changes in Sovereign’s day-to-day operations, management, or distributor network, and the company will continue to operate independently.
Brett Berish, chief executive of Sovereign Brands, said: “Pernod Ricard is at the forefront of our industry for a reason: they are simply the best. We’re beyond excited to work with Alexandre Ricard and his talented team.”
Pernod Ricard yesterday reported 4.5 per cent increase in sales as it announced annual results that show it has nearly surmounted the Covid-19 pandemic.
