FRANCE – Pernod Ricard has acquired the remaining stake in tequila brand Avión, producer of several small batch, ultra-premium tequilas in eye-catching packaging, three and a half years after paying US$100 million to take majority control.
The global spirits company Pernod Ricard has bought the stake from Jeezy and his Tequila Avion partner, Ken Austin.
Pernod Ricard has in the recent past made significant investment when it bought into the spirit Mezcal, acquiring a majority stake in Mexican Producer Del Maguey.
Avion strongly believe that Pernod Ricard sophisticated group of individuals, its strong logistics and distribution system and brokers would cause significant growth of Avion.
The deal will see some of Avion’s top executives remain in the business, Austin along with Avión president Jenna Fagnan, who will remain involved with the business and will receive financial incentives that will last at least until 2020.
Pernod Ricard’s commitment to this high-potential brand has been demonstrated by the Pernod Ricard people, distributors and brokers who have continued to be key drivers in taking Avión to the next level.
“When I first became involved with Tequila Avión in 2013, I knew it had enormous potential on a global scale,” Jeezy said in a statement.
“This next step with Pernod Ricard USA and continued partnership with Founder and Chairman, Ken Austin, will allow us to continue to grow the brand on the worldwide stage.”
Despite selling his stake, Jeezy will remain involved and finally incentivized up until 2020, and will continue to support the brand.
They’ll also be able to take it to the next level, strengthening its brand position and achieve an improved market share in the near future.
“Avión has become a leading aspirational lifestyle brand in the fast-growing ultra-premium tequila category.
This acquisition is important for Pernod Ricard USA as we focus on premiumization and building brands that consumers are passionate about,” said Paul Duffy, Chief Executive Officer of Pernod Ricard USA.