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Pernod Ricard is strengthening its agave portfolio by acquiring a majority shareholding in Código 1530 Tequila, a range of ultra-premium tequilas. Produced in Jalisco, Mexico, Código is available in 50 states across the US and is present in more than 30 international markets. Following the deal, Pernod Ricard aims to use its distribution expertise in premium brands to accelerate Código’s global development. Código co-founder, Ron Snyder, said: “We are thrilled to join forces with such a savvy international powerhouse like Pernod Ricard. Our goal for Código has always been to produce and share the best possible tequila.” 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 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 a common ambition to strongly accelerate and strengthen the success of the brand.” The acquisition sees Pernod Ricard expand and diversify its portfolio of tequila brands, which also includes Olmeca, Altos and Avion. The strengthening of the agave portfolio follows Pernod’s recent investment in the Mexican spirit category through its acquisition of a minority stake in the Nocheluna brand. Financial terms of the transaction were not disclosed.