Pernod Ricard to acquire majority stake in Código 1530

Strengthening its agave portfolio, Pernod Ricard has announced the signing of an agreement for the acquisition of a majority shareholding of Código 1530 Tequila, a range of ultra-premium tequila.

This new investment into the fast-growing agave category, mainly driven by the US market, complements the Group’s portfolio across price points and occasions. 

Alexandre Ricard, chairman and CEO of Pernod Ricard, said: “Código’s range of tequilas reinforces our offer of ultra premium plus agave products in the US, where the category is enjoying a 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 Código 1530 and common ambition to strongly accelerate and strengthen the success of the brand,” Ricard added.

Founded in 2016 by Ron Snyder, Federico Vaughan and George Strait, Código 1530 tequila is produced in the Mexican state of Jalisco, and is based on the transmission of an ancestral tequila recipe following Los Códigos, “the codes” in English.

“Our goal for Código has always been to produce and share the best possible tequila. What started as simply enjoying our tasty tequila with friends in Mexico, quickly grew into an aspiration to share Código with discerning consumers around the world,” said Snyder. 

“To gain the backing of Pernod Ricard is a powerful alliance, and a logical progression that will benefit consumers with an expanded reach through our collaborative growth. We look forward to working closely with Alex, Ann & the Pernod Ricard team as we build our brand globally,” Snyder added.

Código is already available within 50 states across the US and is at the early stage of its international development with a presence in over 30 markets. 

Through this partnership, Pernod Ricard is expanding and diversifying 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 Mezcal portfolio built around the Del Maguey and Ojo de Tigre brands.