Pernod Ricard Invests In RTD Capacity, Banking On Further Growth
November 16, 2022Pernod Ricard is targeting further growth in the RTD space looking ahead, propelled by offerings such as Jameson Ginger & Lime, Malibu Pineapple Bay Breeze, and TX Whiskey & Cola. Yesterday the company announced a $22 million investment at its Fort Smith, Arkansas plant to add its first RTD canning line. According to Impact Databank, Absolut canned RTDs surpassed 300,000 cases in 2021 on triple-digit growth, and they’ve more than doubled in control states so far in 2022. Jameson RTDs rolled out this spring and are also off to a fast start.
Pernod Ricard North America chairman and CEO Ann Mukherjee said the investment reflects the company’s “commitment to increase our growth potential in one of the industry’s fastest-growing categories of the last couple years.” “The high-speed canning line will be instrumental in increasing our production capabilities and swiftly bringing our premium, bar-quality RTDs to market,” added Pierre Joncourt, senior vice president, Pernod Ricard North America.
Indeed, spirits-based RTDs continue to soar even as much of the spirits category runs up against increasingly tough comps. According to Impact Databank, spirits-based RTDs grew from under 10 million cases in the U.S. in 2019 to approximately 28 million cases last year. This year, the category is projected to approach the 40-million-case mark.—Daniel Marsteller
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