Pernod Ricard has made another agave play, this time buying into the Código 1530 Tequila and mezcal brand.
Barely a week after Pernod acquired a stake in Nocheluna Sotol from Casa Lumbre, the group has lined up the purchase of majority control of Código from founders Ron Snyder, Federico Vaughan and US country music singer George Strait. Neither the size of the holding nor the sum paid was disclosed.
The brand’s Tequila portfolio operates in the ‘ultra-premium’ and ‘prestige’ pricing segments, according to Pernod, with the Blanco expression available in the US through Drizly from US$50 per 75cl bottle. Código also sells two mezcal iterations, Artesanal and Ancestral.
A nationwide presence in the US is augmented by availability in 30 other markets, with Pernod pledging to “accelerate its global development and reach new consumers”.
Pernod’s agave-based spirits footprint comprises:
- Altos, Avion and Olmeca Tequilas
- Del Maguey and Ojo de Tigre mezcals, and
- Nocheluna sotol
Earlier this month, Código released a limited-edition Blanco Tequila, Estate Harvest Still Strength, at a price point of $79 per unit.
How spirits brand owners can tap into the sipping mindset – Consumer Intel
