News Alert: Pernod Takes Majority Stake In Código 1530 TequilaOctober 17, 2022
Pernod Ricard has agreed to acquire a majority stake in Código 1530 Tequila, a range of ultra-premium and prestige Tequilas, for an undisclosed sum. Founded in 2016 by Ron Snyder, Federico Vaughan, and George Strait, the brand includes Blanco, Rosa, and Reposado offerings as well as prestige-level Añejo, Barrel Strength Añejo, and Origen Extra Añejo.
Código 1530 joins Olmeca, Altos, and Avion in Pernod’s Tequila portfolio. The company is also adding two new Mezcals (Código Mezcal Artesanal and Código Mezcal Ancestral) to its range, joining the Del Maguey and Ojo de Tigre brands. Last week Pernod also invested in the sotol category through its acquisition of a minority stake in the ultra-premium Nocheluna brand.
“Código’s range of exquisite tequilas reinforces our offer of Ultra Premium+ agave products in the US, where the category is enjoying a very strong momentum,” said Pernod Ricard chairman and CEO Alexandre Ricard. “It is a privilege to partner with Ron Snyder, Federico Vaughan, and George Strait with whom we share a common vision for Código 1530 and common ambition to strongly accelerate and strengthen the success of the brand.”
With Pernod’s backing, the brand is now expected to accelerate its U.S. and global development, building on its existing presence in 30 markets worldwide.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.