Asia may get all the ink, but lots of industry insiders are betting that the next big spirits market is actually Africa. Add Pernod-Ricard to that list. Today, the spirits giant announced the acquisition of Western Cape of South Africa based Inverroche Distillery.
Founded in 2011 by Lorna Scott, Inverroche’s range now consists of three gins: Gin Classic, Gin Verdant, Gin Amber. The company prides itself on using fynbos, basically indigenous botanicals, in production.
The line is distributed in 15 countries at present. However, increasing distribution was a primary driver behind the deal.
“The group’s vast distribution network will enable Inverroche Gins to reach new consumers,” said Scott in a statement. “We will be taking a luxury African brand to a large audience and sharing the story of our common heritage.”
Pernod’s gin portfolio was built around Beefeater with Seagram’s acquired as a supplement in the late 90’s. In June, the spirits giant added Italian gin distillery Malfy to their offerings.
The french company had a busy summer. Also in June, they purchase Rabbit Hole Distillery, a Looisville Kentucky based American Whiskey startup.
“Inverroche gins nicely complement our portfolio,” added Pernod Ricard Sub-Saharian Africa Managing Director Paul-Robert Bouhier via a release. “We are excited to further contribute to their success in South Africa and to support their development throughout sub-Saharian Africa.”
Africa, particularly South Africa boomed over the last decade despite some high profile setbacks. Cape Town long enjoyed a reputation as a tourist destination; in recent years, the city experienced a boom of innovative restaurants, bars, and wineries. Likewise, Johannesburg is in shemidst of a renaissance of its own. The metropolis finally emerged from the shadow of apartheid and is now blossoming into cultural, historical, and business hub in its own right.
Terms of the deal were not disclosed. The transaction is expected to officially close before the end of the quarter.