Pernod Ricard to acquire a majority stake in Código 1530 Tequila
Pernod Ricard has signed an agreement for the acquisition of a majority shareholding of Código 1530…Pernod Ricard has signed an agreement for the acquisition of a majority shareholding of Código 1530 Tequila, a range of Ultra-Premium and Prestige tequila. This new investment into the fast-growing agave category, mainly driven by the US market, complements the group’s portfolio.
Founded in 2016 by Ron Snyder, Federico Vaughan and George Strait, the story of Código 1530 tequila, produced in the Mexican state of Jalisco, is based on the transmission of an ancestral tequila recipe following Los Códigos, “the codes” in English. Código 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).
Código is already available within 50 states across the US and is at the early stage of its international development with a presence in over 30 markets. Thanks to Pernod Ricard’s distribution expertise in ultra-premium & prestige brands and its successful experience in collaborating with entrepreneurs, Código is now poised to accelerate its global development and reach new consumers.
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 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 CEO 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.”