The French company will expand its presence in the vermouth market after acquiring a controlling stake in Vermutería de Galicia for an undisclosed amount.
The merger was completed via the Spanish division of Pernod Ricard España. This move by the French company is in line with the previously planned strategic plan to Transform & Accelerate. It should be noted that this kind of deal demonstrates the company’s current course of expansion and profit-making in the segment of aperitifs.
The Spanish division’s CEO said the acquisition will add the first vermouth in a category to the company’s portfolio, helping to gain a foothold in a new market for them.
“Cooperation with local companies is part of the Pernod Ricard`s course”, he stated.
And such cooperation with St Petroni will provide three varieties of vermouth at once. The deal is a win-win for both parties as, for the Spanish vermouth producer, Pernod Ricard is the ideal associate to continue expanding and work on traditional beverage recipes.
According to Cristina Codesido, director of Vermutería de Galicia, this situation will help her company to achieve new goals not only in terms of company expansion but also in popularizing the rich culture of Galicia.
Previously, Pernod Ricard has already invested in the mescal market and plans to enter the super-premium gin market in the future.