Pernod Ricard USA, a subsidiary of French wines and spirits firm Pernod Ricard, has increased its significant majority stake in Avión Spirits, with the purchase of additional stake from its joint-venture partner Tequila Avión.
The move demonstrates the company's potential to seize targeted external growth opportunities in the American spirits segment and it will enable the company to further build its brand over the years.
Pernod Ricard USA chief executive officer Bryan Fry said that Avión has delivered excellent results since the creation of the joint-venture in 2011.
"The ultra-premium brand has become a bartender and consumer favorite and today benefits from very strong brand equity and momentum. Avión is an important brand in Pernod Ricard USA's portfolio and we have great confidence in its future," added Fry.
Tequila Avión claims that Pernod Ricard along with its distributors and brokers, route to market strategy and entrepreneurial spirit will continue to drive Avion's business to the next level.
