Pernod's Acquisition Spree Continues 🥃

Good morning, folks. Welcome back to a slightly truncated Christmas Eve edition of This Week in CPG. I hope you're enjoying some time off and gearing up for a big 2023.

Let's dive into the news...

The Big Story

Global spirits firm Pernod Ricard made yet another bet on ready-to-drink cocktails with a majority investment in Cockorico, a French producer of premium premade cocktails. The company was founded in Lyon in 2019 by Marc Bonneton, Julien Maurel, and Geoffrey Clavel. The latter two entrepreneurs and the former a mixologist. They sell some great-looking products which you can find here.

This comes roughly one month after Pernod announced a $22m investment in its first-ever RTD canning line in Fort Smith, Arkansas. In short, Pernod is bullish on convenience when it comes to at-home spirits consumption. They're even creating RTD lines for some of their flagship spirits brands: Absolut, Beefeater, Jameson, and Malibu.

This marks the end of a busy year for Pernod Ricard. While 2021 was rather slow, in 2022 Pernod reimagined its portfolio and placed some big bets on the future. Here's a quick breakdown of Pernod's big moves this year:

• Acquired a majority stake in Codigo 1530, the ultra-premium tequila brand founded by Texas country music legend George Strait.

• Significantly increased its stake in Sovereign Brands, the wine & spirits group founded by Brett Berish. Sovereign owns Luc Belaire, Bumbu Rum Co., McQueen and the Violet Fog, and Villon.

• Launched a new sotol brand, Nocheluna, with Lenny Kravitz and Casa Lumbre.

• Announced plans to build a $250m distillery in Kentucky for its American whiskey portfolio, The American Whiskey Collective.

• Sold Tormore Whisky to Elixir Distillers.

Deals

• Apparel brand Lacoste acquired its fragrance license back from Coty and immediately announced a 15-year licensing agreement with Interparfums SA. Interparfums will pay a 90m EUR entrance fee to Lacoste for the license. Link

• Chinese skincare group Chicmax Cosmetic Co — the owner of brands like Kans, One Leaf, Baby Elephant, Bio-G, and Hanamino — officially went public on the Hong Kong Stock Exchange. Link

• As mentioned above, Pernod Ricard acquired a majority stake in French RTD cocktail brand Cockorico. Terms of the deal were not disclosed. Link

• Artemis Domaines, a French investment firm that acquires premier vineyards & wine estates, acquired Champagne House Maison Jacquesson. Artemis acquired a minority stake in Maison Jacquesson earlier this year. The seller is the Chiquet family who has owned it since 1974. Link 

• Scottish gin producer Isle of Harris Distillery secured a roughly $12m financing package from HSBC UK. The funding will be used to expand international distribution and build two new warehouses. Their bottles are absolutely beautiful. Link

• London-based vegan dog food brand The Pack raised just over $1m in seed funding from Veg Capital, Kale United, Scelta Mycofriends, and a number of angel investors. The company was founded by Damien Clarkson and Judy Nadel in 2021. Link

• Australian retail firm Kogan saved furniture & homewares e-tailer Brosa from bankruptcy. Link 

• LA-based private equity firm Butterfly acquired Milk Specialties Global, a manufacturer of functional ingredients for the health & wellness industries. Milk Specialties operates 12 state-of-the-art manufacturing facilities in the US. Link

What's New...

• Gucci opened its first standalone store dedicated to luggage. The 2,900-square-foot store located on Rue Saint-Honore was formerly home to Off-White. Link

• Former Casper influencer marketer Dharni Patel launched a new face mask brand, Kindia. Link

• Kin Euphorics unveiled its latest flavor – Actual Sunshine. You'll be hard pressed to find a prettier can. Link

• Instacart unveiled its Fastest Growing Emerging Brands list. Featured brands include Mush, Slate, Smart Sweets, IQ Bar, Belgian Boys, and many others. It's a fun list! Link

• Great piece in Forbes on Soft Services, the body care brand with some of the best branding in the game. Link

• SPF skincare brand Supergoop launched a beautiful new face oil, Daily Dose Hydra-Ceramide Boost. Link

• Cosmetic chemist and beauty product developer Julie Pefferman identifies eight trends that could be huge in 2023. Link 

• Super Coffee has a new CEO in Tyler Ricks. Founding CEO Jimmy DeCicco will become Chief Brand Officer and Exec Chairman. Link

Distribution Quickfire

• Oatly announced a distribution partnership with Graduate Hotels, a chain of hotels located in college towns.

• Two Drifters Rum launched on British Airways.

• Korean plant-based meat brand UNLIMEAT will hit shelves at 1,500 Albertsons stores early next year.

• Non-alc beverage brand Kin Euphorics now ships to 50+ international markets.