INDIA – Tilaknagar Industries, one of India’s largest distillers, has signed a deal with French distiller Pernod Ricard to make their products at their Maharashtra manufacturing unit.
Founded in 1933 as Maharashtra Sugar Mills, Tilaknagar Industries is among India’s ten largest distillers. It boasts of a diverse portfolio of brands in categories including brandy, whisky, vodka, gin and rum and sells Mansion House brandy.
According to a statement from Tilaknagar Industries, the agreement with Pernod Ricard will be valid for the next ten years and could be extended to more states in the near future.
The news was received well by the stock market resulting in the distiller’s shares jumping 2.96% to Rs 36.50. According to a report by Business Standard, shares of Tilaknagar Industries rallied for the third trading session.
Overall, the company’s stock has added nearly 24% in three days from its previous closing low of Rs 29.45 posted on 31 March 2021.
Pernod Ricard currently enjoys the second largest market share in the distilled alcohol category behind Diageo’s United Spirits.
The company premium and semi-premium brands such as Blenders Pride, Royal Stag and Imperial Blue enjoy a significant patronage in the Indian alcohol market.
The new partnership presents new opportunities for Pernod Ricard. It will, to a certain degree, domesticate products that will be under license subsequently attracting greater market share.
Penod Ricards introduces Malibu Watermelon
Meanwhile, in North America, Pernod Ricard has added a watermelon variant to its Malibu coconut rum portfolio. The Malibu Watermelon will join a fruit-flavoured stable that also includes Pineapple and Strawberry.
The company said its new variant is made with natural watermelon flavours, and will be available across the United States immediately.
“With the watermelon flavour trend growing nearly 40% year-over-year, we’re excited to extend the Malibu portfolio with this season’s popular flavour”, said Malibu’s marketing VP, Regan Clarke.
Unveiling of Lani Montonya as Chief HR Officer
The company has further announced the appointment of Lani Montoya, as the Chief Human Resources Officer for its North American operations.
Montoya, a company veteran who has held leadership roles in both the U.S. and Paris, will succeed Paul Holub, who is retiring from his role as Senior Vice President, Human Resources and Corporate Services after a 25-year career with Pernod Ricard North America.
Montoya has been with the premium spirits and wine company for 15 years, and most recently led Global Talent Management and Diversity & Inclusion for Pernod Ricard, based in Paris.
Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. SUBSCRIBE HERE