Pernod Ricard has added another string to the bow of its relationship with Mexico’s Casa Lumbre, acquiring an unspecified stake in the latter’s Almave alcohol-free spirits brand.
The purchase, financial details for which were not disclosed, comes ten months after the brand’s debut in the US. Produced in Mexico’s Jalisco region, Almave is “the first non-alcoholic spirit made following the same processes as tequila”, Casa Lumbre said at the time. The two-strong range, comprising Blanco and Ámbar, was co-founded by Formula One driver Lewis Hamilton and retails at US$39.99 per 70cl bottle in the US.
“With Almave, Lewis Hamilton and Casa Lumbre have designed something that is truly exceptional in terms of quality, taste and positioning,” said Pernod Ricard CEO Alex Ricard. “Agave is a highly sought-after category across the world. Having a non-alc proposition in our premium portfolio … makes it a true gem.”
Pernod Ricard, which booked a 1% dip in full-year sales today, has an established connection with Casa Lumbre that dates back to 2020, when the Paris-headquartered company lined up a “collaboration” with the Ojo de Tigre brand. The high-end mezcal was co-founded by Lumbre’s CEO, Moises Guindi.
Fast forward to October 2022, and the relationship was strengthened by Pernod Ricard’s purchase – again of an unspecified holding – in Lumbre’s Nocheluna sotol, which also hails from Mexico.
Speaking exclusively to Global Drinks Intel earlier this year, Pernod Ricard’s head of marketing for non-alcoholics, Solène Marchand, said that alcohol-free spirits accounts for around 2%-to-3% of group sales. “It’s not the absolute number that’s interesting,” Marchand added, “it’s the growth that we’re seeing, as well as the future opportunity.”
