Pernod Ricard buys majority stake in Vermutería de Galicia

French alcoholic beverage firm Pernod Ricard has entered the vermouth segment by acquiring a majority interest in Vermutería de Galicia for an undisclosed sum.

The French group made the acquisition through its Spanish subsidiary Pernod Ricard España.

Vermutería de Galicia owns vermouth brand called St Petroni.

Vermutería de Galicia founder and managing director Cristina Codesido said: “I firmly believe that this alliance will enable us to reach new heights, not only in promoting the essence of St Petroni but also in promoting Galicia’s rich land and culture, by leveraging Pernod Ricard España’s strong distribution network.

“Pernod Ricard is the ideal partner with whom to continue our expansion, due to its great respect for the roots and unique values of our brand, which will continue to inspire everything we do as we open this new chapter.”

The vermouth brand St Petroni was created in 2014 in Padrón using Albariño grapes and 29 selected herbs and botanicals.

St Petroni, which is available in three varieties including Vermu Rojo, Vermu Blanco, and Bitter, will be added to Pernod Ricard España’s comprehensive brand portfolio

The deal is said to be part of Pernod Ricard’s Transform & Accelerate strategy.

Pernod Ricard España CEO Guillaume Girard-Reydet said: “With St Petroni, we are starting a new and exciting journey by adding to Pernod Ricard España’s portfolio its first vermouth, entering into a category that will help us to strengthen our presence in the aperitif segment.

“Partnering with unique local brands is part of our culture and tradition. Our entire teams and organisations are committed to work hand in hand to further grow the brand, as we have done in the past with Ruavieja.”

Through this deal, Pernod Ricard España focused its investments in the local brands and particularly in the region of Padrón, where it produces local liqueur brand Ruavieja.