Pernod Ricard acquires majority stake in SA spirit maker Inverroche
Date: 26 July 2019 | Source: Bizcommunity
Drinks giant Pernod Ricard, through its affiliate Pernod Ricard South Africa, is acquiring a majority stake in South African craft spirit brand Inverroche.
Based in the Cape Floral region, Inverroche is best known for pioneering the use of fynbos in its gin, and it's these indigenous, aromatic botanicals that give the brand's gins their unique taste and full-bodied flavours. The range includes Gin Classic, Gin Verdant, Gin Amber and a limited edition released annually. Also in the Inverroche portfolio are two rums and three liqueurs.
As part of the company's commitment to community development and sustainability, 70% of Inverroche employees are indigenous women from the local area.
Lorna Scott, the founder and CEO of Inverroche Gins, will continue her stewardship of the South African liquor brand, as both a shareholder and CEO of Inverroche. “I am thrilled to partner with Pernod Ricard. The Group’s vast distribution network will enable Inverroche Gins to reach new consumers. We will be taking a luxury African brand to a large audience and sharing the story of our common heritage,” says Scott.
This acquisition increases Pernod Ricard’s presence in the dynamic sub-Saharan Africa spirits market – where gin growth is accelerating exponentially – and comes just months after the Group’s investment in Jumia, the leading e-commerce player in Africa.
Inverroche notes in a statement that the deal is also significant for the local economy as it demonstrates a vote of confidence in South Africa's economic prospects and highlights the ability of local female entrepreneurs to create world-class luxury brands which are made in Africa.
Paul-Robert Bouhier, managing director of Pernod Ricard sub-Saharan Africa, comments, “Inverroche Gins nicely complement our portfolio. We are excited to further contribute to their success in South Africa and to support their development throughout Sub-Saharan Africa."
This transaction is expected to close shortly.