Pernod Ricard Signs Premium Tequila Agreement with Tequila Avión

Created in July 2010, Avión has since enjoyed a strong growth, becoming an ultra-premium tequila of choice in many high-end venues in the US.

Jul 20 2011 --- Pernod Ricard has announced the signing of a joint venture agreement with the company Tequila Avión for the purpose of producing and promoting the ultra-premium tequila brand Avión. Pernod Ricard will hold a minority interest in this joint venture and will be the exclusive worldwide distributor of the brand.

Created in July 2010, Avión has since enjoyed a strong growth, becoming an ultra-premium tequila of choice in many high-end venues in the US.

The structure of the transaction does not impact the group indebtedness (other than the non material initial contribution to the joint venture).

Commenting on this transaction, Pierre Pringuet, Pernod Ricard’s Chief Executive Officer, stated, “I’m thrilled about the addition of this high-end tequila to our portfolio. This transaction illustrates Pernod Ricard’s will to seize new growth opportunities while maintaining its priority of deleveraging.”