FDBusiness.com

Pernod Ricard, through Pernod Ricard USA’s New Brand Ventures division, has agreed to take a majority stake in Del Maguey Single Village Mezcal, the leading producer of artisanal, hand-crafted mezcals and number one mezcal brand in the US. The transaction is subject to usual condition precedents and is expected to close within 90 days.

Del Maguey Single Village Mezcal, founded in 1995 by artist and entrepreneur Ron Cooper, features a range of hand-crafted super-premium mezcals from the Oaxaca region of Mexico. Created from a traditional process rooted in Zapotec culture, the ‘Single Village’ name identifies every Del Maguey product by the village in which it is made.

“We partnered with Pernod Ricard because they understand and appreciate our mission of preserving the culture of the Zapotec people and protecting the traditional process of making mezcal,” says Ron Cooper. “Through this partnership, our management team will gain increased opportunities to distribute our products to mezcal lovers around the world while also ensuring that the palenqueros – or families we work with – are able to continue crafting their liquid art for generations to come.”

Under the terms of the transaction, the management team of Ron Cooper, Michael Gardner, Steve Olson, and the rest of the Del Maguey team will remain in place. All of Del Maguey’s Mexico operations will remain intact as well.

Alexandre Ricard, Chairman and CEO of Pernod Ricard, comments: “We are very impressed by Del Maguey’s successful track record and the high quality of their mezcals. This partnership illustrates our continued strategy of partnering with dynamic entrepreneurs who share our passion for authentic, high-quality crafted premium products and further extends our fantastic portfolio of genuine brands.”

Global sales of mezcal rose to a record $80 million in 2015, and US volumes jumped 279% from 2005-2015, according to International Wine & Spirits Research.