Pernod Ricard has announced that it has purchased the remaining stake in the ultra-premium, dry gin brand Monkey 47.
The spirits giant, which is now the exclusive owner of Monkey 47, acquired a majority stake in the gin brand in 2016.
Alexander Stein, founder of Monkey 47, will remain a part of the company in an advisory role, Pernod Ricard said in its statement.
Chairman and CEO of Pernod Ricard, Alexandre Ricard, commented, “This partnership is a clear example of Pernod Ricard’s ability to incubate small independent distilleries while respecting entrepreneurial freedom and the brand's core values.
“However, Monkey 47’s success story would not have been possible without Alexander Stein’s trust, authenticity and entrepreneurial spirit, for which I am grateful.”
'Logical Consequence'
Stein described the acquisition as a “logical consequence of the brand´s progress following the partnership with Pernod Ricard.”
“I would like to thank Pernod Ricard for walking the talk. It has been a fantastic journey and I look forward to personally contributing to Monkey 47’s future trajectory,” he added.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.
