Pernod Ricard has acquired a minority stake in Lewis Hamilton’s non-alcoholic agave brand Almave.
The Formula One driver developed Almave with Mexican drinks incubator Casa Lumbre and investment firm Cooper, launching the product last year.
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Two Almave SKUs are available: Almave Blanco and Almave Ámbar. On the brand’s UK website, the Blanco is on sale for £24 ($32) and the Ámbar at £27.
Pernod Ricard said it would take the brand to “several markets” globally.
“Agave is a highly sought-after category across the world,” Pernod Ricard chairman and CEO Alexandre Ricard said today (29 August). “Having a non-alc proposition in our premium portfolio that pays full tribute to the craft and savoir-faire of its traditional distillation makes it a true gem. I’m very excited to see Pernod Ricard support the development and fulfil the true potential of Almave.”
The French spirits giant, which owns Tequila brand Olmeca, says Almave is the first non-alcoholic blue agave spirit produced in Jalisco, the state in Mexico that’s home to the town of Tequila.
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By GlobalDataHamilton said: “It’s exciting that Pernod Ricard has, today, become an official stakeholder in Almave, allowing us to unleash the potential of the next stage of our journey, and help take Almave to even more people around the world.”
The investment in Almave is the latest tie-up between Pernod Ricard and Casa Lumbre. Last year, Pernod Ricard introduced Nocheluna Sotol, a co-venture between Casa Lumbre and American singer-songwriter Lenny Kravitz, to major European markets.
The Paris-headquartered spirits group has also made undisclosed investments to grow both the Abasolo Ancestral Corn Whisky and Ojo De Tigre Mezcal brands.
Alongside news of the investment in Almave, Pernod Ricard also published its full-year results.
Reported net sales fell 4% to €11.59bn ($12.84bn) in the 12 months ended 30 June. On an organic basis, net sales were down 1%.
Profit from recurring operations decreased 7% €3.34bn. Net profit declined by 34% to €1.51bn.
