Pernod Ricard has closed out the year with another RTD play, this time acquiring majority control of France-based premix start-up Cockorico.
The transaction, announced this week, has been conducted by Pernod Ricard France, with the size of stake and amount paid not disclosed. Launched three years ago, the Cockorico portfolio comprises ten premix cocktails, including a Negroni, a Cosmopolitan and an Old Fashioned, that retail for around EUR36 [US$38] per 70cl bottle.
According to the division, the brand is “the French leader in ready-to-serve cocktails”.
The purchase comes a month after the group confirmed a US$22m investment in its RTD operations in the US. Among the brands to benefit from the installation of a new canning line at Pernod Ricard’s Arkansas facility are Absolut, Jameson and Malibu.
Speaking exclusively to Global Drinks Intel earlier this year, global MD of RTD & convenience Fredrik Syren highlighted the segment’s strong potential for growth. “The RTD category is moving very fast, both in its innovation and in how it operates,” he said. “For the RTD category, winning the battle at point-of-sale is really important.”
