Pernod Ricard is planning to invest in African online retail firm Jumia and become a strategic partner in the company.

The new partnership is expected to further expand Pernod Ricard’s product offering in the African continent. The company’s products are currently available in 13 countries.

Jumia co-CEOs Sacha Poignonnec and Jérémy Hodara said: “We are very proud to welcome Pernod Ricard as a new strategic partner of Jumia. This investment is an acknowledgement of the growth and innovation that Jumia has achieved since 2012.”

Under the new partnership, Pernod Ricard will be sharing its knowledge about consumer and physical distribution networks in Africa while Jumia will offer its digital, logistics and payment platforms.

“With this reinforced strategic partnership, Pernod Ricard will be able to offer its large portfolio of premium brands to a greater number of consumers in Africa.”

Pernod Ricard Sub Saharan Africa president Paul-Robert Bouhier said: “Our business relationship with Jumia traces back to 2016 with the successful launch of e-commerce platform Jumia-Party.

“This innovation has experienced solid growth in cities such as Lagos, Nairobi and Accra. With this reinforced strategic partnership, Pernod Ricard will be able to offer its large portfolio of premium brands to a greater number of consumers in Africa.”

Jumia also offers restaurant delivery platform Jumia Food and hotel booking platform Jumia Travel, which together represent around 25,000 establishments in Africa.

Pernod Ricard will use the network to develop its brand presence in the out-of-home segment.

Lazard acted as financial advisor to Jumia for the transaction.