Pernod Ricard has struck an agreement to acquire a majority shareholding of Código 1530 Tequila. The investment extends the group’s portfolio in the fast-growing agave category.
Founded in 2016 by Ron Snyder, Federico Vaughan and George Strait, Código 1530 is produced in the Mexican state of Jalisco. It is based on the transmission of an old Tequila recipe following Los Códigos, or the codes in English, said Pernod Ricard. Código is already available within 50 states across the US and is at the early stage of its international development with a presence in over 30 markets.
Código features ultra-premium (Blanco, Rosa and Reposado) and prestige products (Añejo, Barrel Strength Añejo and Origen Extra Añejo).
Pernod Ricard’s portfolio of Tequila brands already includes Olmeca, Altos and Avion. The group is also adding two new Mezcal references (Código Mezcal Artesanal and Código Mezcal Ancestral) to its Mezcal portfolio built around the Del Maguey and Ojo de Tigre brands. The strengthening of the agave portfolio follows a recent investment in the sotol category through its acquisition of a minority stake in the ultra-premium Nocheluna brand.
Pernod Ricard Chairman and CEO Alexandre Ricard said: “Código’s range of exquisite tequilas reinforces our offer of ultra-premium+ agave products in the US, where the category is enjoying a 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 common ambition to strongly accelerate and strengthen the success of the brand.”
Pernod Ricard USA CEO Ann Mukherjee said: “We are incredibly excited to welcome Código 1530 into our portfolio, enhancing our agave products offer especially in its upper segment where consumers and connoisseurs are eager to discover brands that combine strong roots with the most exclusive quality.
“Thanks to our newly enhanced portfolio, we have never been more confident to lead the growth of the spirits’ industry within the US market.”
Ron Snyder added: “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. What started as simply enjoying our tasty tequila with friends in Mexico, quickly grew into an aspiration to share Código with discerning consumers around the world.
“To gain the backing of Pernod Ricard is a powerful alliance, and a logical progression that will benefit consumers with an expanded reach through our collaborative growth. We look forward to working closely with Alex, Ann and the Pernod Ricard team as we build our brand globally.”
