Pernod Ricard, through its Spanish subsidiary, has bought a majority stake in Vermutería de Galicia, the producer of vermouth brand St. Petroni.
The deal for the Galician producer – which was made for an undisclosed sum – will see three varieties of St. Petroni join Pernod Ricard’s portfolio of local brands: Vermu Rojo, Vermu Blanco and Bitter.
By expanding into the vermouth category, Pernod Ricard España says it is demonstrating its commitment to its continued growth with the highly strategic aperitif segment.
Created in 2014, St. Petroni is produced in Padrón, in the northern region of Galicia, and is made with Albariño grapes and 29 selected herbs and botanicals.
The acquisition is the companies latest move as part of its ‘Transform and Accelerate’ strategic plan and also marks its latest investment in local brands, particularly in the region of Padrón, where it already produces its liqueur brand Ruavieja.
As part of its strategic plan, Pernod Ricard has made a series of investments this year in brands such as artisanal mezcal Ojo de Tigre, Japanese gin Ki No Bi Kyoto and Italian aperitivo Italicus.
“With St. Petroni, we are starting a new and exciting journey by adding to Pernod Ricard España’s portfolio its first vermouth, entering into a category that will help us to strengthen our presence in the aperitif segment,” said Guillaume Girard-Reydet, CEO of Pernod Ricard España.
He added: “Partnering with unique local brands is part of our culture and tradition. Our entire teams and organisations are committed to work hand in hand to further grow the brand, as we have done in the past with Ruavieja.”
For the renowned craft vermouth brand, Pernod Ricard’s investment will reportedly promote the drink and expand its presence.
Cristina Codesido, founder and managing director of Vermutería de Galicia, said: “I firmly believe that this alliance will enable us to reach new heights, not only in promoting the essence of St. Petroni, but also in promoting Galicia’s rich land and culture, by leveraging Pernod Ricard España’s strong distribution network.”
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