Pernod Ricard invests in Luc Belaire producer Sovereign Brands

Pernod Ricard has taken a minority stake in the New York-based wine and spirits producer Sovereign Brands.

The Sovereign Brands portfolio includes French sparkling wine brand Luc Belaire, Caribbean rum brand Bumbu, Brazilian gin McQueen and the Violet Fog, and French liqueur Villon.

Brett and Brian Berish, the brothers that founded the company in 2000, said they are “beyond excited” to work with Pernod Ricard.

The two groups will continue to operate independently, as the agreement does not include any changes in Sovereign’s day-to-day operations, management, or distributor network.

Pernod Ricard said the investment represents “a first step of a long term partnership aimed at creating business opportunities between Sovereign Brands and Pernod Ricard in the future, such as exploring potential common industrial and commercial projects”.

Alexandre Ricard, chief executive of Pernod Ricard, said: “Sovereign Brands has demonstrated exceptional innovation and marketing skills. We are thrilled to partner with Brett and Brian Berish, two of the most innovative entrepreneurs of our industry.”

Pernod Ricard, which produces brands including Absolut, Jameson and Chivas Regal, has just reported organic sales growth of 9.7% for the 2021 fiscal year. The firm’s share price has increased by 5% over the past day.