Pernod Ricard’s German affiliate Pernod Ricard Deutschland has entered into an agreement with Germany-based Black Forest Distillers to acquire a majority share of dry-gin brand Monkey 47, in order to expand its portfolio into the premium gin segment.
Monkey 47 is made in the Black Forest region in Germany.
The deal is slated to be completed after it gains approval from competition authorities. The financial details of the transaction have not been disclosed.
With the brand acquisition, Pernod Ricard plans to leverage the popularity of Monkey 47.
Monkey 47 uses 47 plant ingredients with around one-third being sourced from the Black Forest.
Ingredients such as elderflower, sloes, blackberry leaves, and lingonberries, are sourced from the German forest. The brand is currently available in more than 50 countries, reported beveragedaily.com.
Pernod Ricard chairman & CEO Alexandre Ricard said: "Since 2011 we have admired the development of Monkey 47 and we are pleased to be able to shape the future of that fantastic brand together with our partner.
"There are moments in life in which you know immediately that you have found a jewel. And Monkey 47 is a jewel, perfectly matching the rising worldwide demand for craft gin with strong local roots. We share the same values that have driven the success of Monkey 47, such as authenticity, entrepreneurial spirit and passion for quality."
Monkey 47 has an annual production of less than100,000 gin bottles. Its gin includes plant ingredients and spring water from Germany's Black Forest, Pernod Ricard was quoted by Reuters UK.
In some of its spirits, Pernod Ricard is seeking to achieve artisanal quality. In vodka segment, the company has introduced Our/Vodka, which claims to be partially distilled, and hand bottled in microdistilleries, reported Reuters.
