Spanish Vermouth has seen a spike in popularity over the last few years and Pernod Ricard has joined in on the action with the acquisition of a majority stake in St Petroni owner Vermutería de Galicia. The cost of the purchase was not disclosed.
St Petroni is relatively new in the world of Spanish Vermouths, only entering the market in 2014. The aromatized, fortified wine is made with Albariño grapes and 29 herbs and botanicals in the town of Padrón in Spain’s northwestern region of Galicia. Pernod Ricard also produces its herbal liqueur brand Ruavieja in Padrón.
Pernod Ricard España made the acquisition, which is in line with the company’s Transform & Accelerate strategic plan. The deal is also said to demonstrate the company’s “clear commitment to its continued growth within the highly strategic apéritif segment.”
“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 apéritif segment,” stated Guillaume Girard-Reydet, CEO of Pernod Ricard España. “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.”
The St Petroni range includes three varieties: Vermu Rojo, Vermu Blanco and Bitter. Each expression is made using a centuries-old traditional maceration method.
:“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,” said Cristina Codesido, founder and managing director of Vermutería de Galicia. “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.”
Back in July, Pernod Ricard invested in super-premium mezcal Ojo de Tigre.