Ron Snyder – Investments – CB Insights
pernod ricard to acquire a majority stake in code 1530 ultra premium and prestige tequila, strengthening its agave portfolio
October 18, 2022
pernod ricard today announces the signing of an agreement for the acquisition of a majority stake in tequila code 1530, a range of ultra-premium and prestige tequilas. This new investment in the fast-growing agave category, driven primarily by the US market, complements the group’s very comprehensive portfolio across all price points and occasions. Founded in 2016 by Ron Snyder, Federico Vaughan and George Strait, the history of Código 1530 tequila, produced in the Mexican state of Jalisco, is based on the transmission of an ancestral tequila recipe following the codes, “the codes” in English. código tequila has positioned itself within a very competitive category, thanks to the unique quality proposal of its range of ultra-premium products (white, rosé and reposado) and prestige (aged, aged barrel strength and extra aged origin). código is already available in 50 states of the united states and is in the initial stage of its international development with a presence in more than 30 markets. thanks to pernod ricard’s distribution experience in ultra-premium & prestigious brands and its successful experience in collaboration with entrepreneurs, code is now ready to accelerate its global development and reach new consumers. Through this partnership, pernod ricard expands and diversifies the value proposition of its portfolio of tequila brands, which already includes olmeca, altos and avion. The group is also adding two new mezcal references (Código Mezcal Artesanal and Código Mezcal Ancestral) to its market-leading mezcal portfolio built around the Maguey and Ojo de Tigre brands. The strengthening of the agave portfolio follows the group’s recent investment in the sotol category through the acquisition of a minority stake in the ultra-premium brand Nocheluna. alexandre ricard, president and chief executive officer of pernod ricard, said: “code’s range of exquisite tequilas reinforces our offering of ultra-premium+ agave products in the united states, where the category is enjoying very strong momentum. It is a privilege to partner with Ron Snyder, Federico Vaughan and George Strait with whom we share a common vision for the 1530 code and a common ambition to accelerate and strongly strengthen the success of the brand.” For Ann Mukherjee, CEO of Pernod Ricard USA, “We are incredibly excited to welcome code 1530 to our portfolio, enhancing our agave product offering, especially in its premium segment, where consumers and connoisseurs are eager to discover brands. that combine strong roots with the most exclusive. quality. Thanks to our recently enhanced portfolio, we have never been more confident to lead the growth of the spirits industry within the US market.” for ron snyder, “we are delighted to join forces with such an intelligent international power as pernod ricard. our goal for code has always been to produce and share the best tequila possible. What started out simply as enjoying our tasty tequila with friends in Mexico quickly turned into an aspiration to share code with discerning consumers around the world. gaining endorsement from pernod ricard is a powerful alliance and a logical progression that will benefit consumers with greater reach through our collaborative growth. we look forward to working closely with alex, ann & the pernod ricard team as we build our brand globally.” perella weinberg partners acted as financial advisor to pernod ricard and debevoise & plimpton llp acted as her legal counsel. rothschild & co acted as financial advisor to code and perkins coie llp acted as its legal advisor. About Code Code 1530 is a premium brand of liquor born from a private recipe known for generations only by a select group of Mexico’s most respected families and best jimadores. Now available to the world, Code 1530 tequila and mezcal offerings have been perfected using traditional customs without ever deviating from the storied traditions of not including any added chemicals, flavorings or sweeteners. Passionately produced in Amatitán, Jalisco, MX, Reposados tequilas are meticulously aged for tasting in the world’s finest French oak cabernet wine barrels sourced from the Napa Valley region. the 1530 code is available in all 50 states and in more than 30 countries worldwide. Learn more at codigo1530.com contact code:
