Pernod Ricard Group has announced a minority investment in U.S. wine and spirits company Sovereign Brands. "Sovereign Brands has demonstrated exceptional innovation and marketing capabilities. We are thrilled to partner with Brett and Brian Berish, two of the most innovative entrepreneurs in our industry," Alexandre Ricard, CEO of Pernod Ricard, said in a press release.
Sovereign Brands was founded by Brett and Brian Berish, sons of Barry Berish, chairman of Jim Bean for 25 years, who now holds the same position in their company. The business’s first success was the creation of the Armand de Brignac Champagne brand that was made famous as ‘Ace of Spades‘ by the US musician Jay-Z who bought the brand in 2014. More recently, the wine focus has been on the Luc Belaire range, claimed to be the world’s fastest growing French sparkling wine brand. Of equal, or possibly greater, interest to Pernod Ricard, is a selection of super-premium spirits brands
The French giant whose portfolio includes Absolut vodka, Chivas whisky and Beefeater gin; the Campo Viejo and Jacobs Creek wine brands; and Perrier-Jouët and Mumm champagne, says that it is looking for a long-term partnership to explore potential joint industrial and commercial projects. The two groups intend to continue to operate independently, as the deal is not expected to result in any changes to day-to-day operations, management or distribution.