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Pernod Ricard buys remaining stake in Avión Spirits

DBR Staff Writer Published 18 January 2018

French alcoholic beverages group Pernod Ricard has acquired the remaining stake in Avión Spirits, completing the buyout of its partner in the Tequila joint venture.

In July 2014, Pernod Ricard acquired a majority interest in Tequila Avión.

Tequila Avión is founded by Ken Austin and produced with third generation agave growers from single source rare Blue Weber agave from Jesus Maria in Jalisco, Mexico.

The tequila's flavors are created in small batches using a meticulous, time intensive distilling process and ultra-slow filtration.

It is available in Silver, Reposado, Anejo, Espresso Liqueur and Avión Reserva 44 Extra Anejo.  

Pernod Ricard USA CEO Paul Duffy said: "Avión has become a leading aspirational lifestyle brand in the fast-growing ultra-premium tequila category. 

“This acquisition is important for Pernod Ricard USA as we focus on premiumization and building brands that consumers are passionate about. We look forward to continuing to develop and grow this exciting brand."

Tequila Avión founder and chairman Ken Austin said: "This clearly displays Pernod Ricard's commitment to this high-potential brand which was voted World's Best Tasting Tequila at the San Francisco World Spirits Competition.

"The Pernod Ricard people, distributors and brokers have been and will continue to be key drivers in taking Avión to the next level."

Avión president Jenna Fagnan and Austin will will remain involved and financially incentivized at least until 2020 to help accelerate its next wave of growth.

Image: Pernod Ricard completes acquisition of remaining stake in Avión Spirits. Photo: Courtesy of PRNewsfoto/Pernod Ricard USA.