Pernod Ricard has completed the purchase of the remaining stake in Monkey 47 for an undisclosed sum, taking full ownership of the dry gin brand.
The group first acquired a majority stake in Monkey 47 back in 2016 via its German affiliate after signing an agreement with Black Forest Distillers.
Produced in Schaberhof, Germany, Monkey 47 is made using a total of 47 plant ingredients handpicked from the forest including spruce tips, lingonberries, elderflower, sloes and blackberry leaves.
The German dry gin brand is now available in over 100 countries across four continents.
Following the deal, Monkey 47 founder Alexander Stein will continue to remain involved in the brand’s ongoing development.
As part of the announcement, Stein said: “The agreement is the logical consequence of the brand’s progress following the partnership with Pernod Ricard. I would like to thank Pernod Ricard for walking the talk. It has been a fantastic journey and I look forward to personally contributing to Monkey 47’s future trajectory.”
Chairman and CEO of Pernod Ricard, Alexandre Ricard, added: “This partnership is a clear example of Pernod Ricard’s ability to incubate small independent distilleries while respecting entrepreneurial freedom and the brand’s core values.
“However, Monkey 47’s success story would not have been possible without Alexander Stein’s trust, authenticity and entrepreneurial spirit, for which I am grateful.”
The announcement follows several recent investments by the French spirits company as it continues to expand its portfolio. Earlier this year, Pernod Ricard invested in Italian premium bergamot-infused aperitivo brand Italicus and Japanese ultra-premium gin brand Ki No Bi Kyoto Dry Gin.
In addition to Monkey 47 and Ki No Bi Kyoto Dry Gin, the Pernod Ricard Gin Hub portfolio of gin products includes brands such as Beefeater, Plymouth, Malfy and Seagram’s (outside of the US).
© FoodBev Media Ltd 2020
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