Wine and spirits multinational Pernod Ricard has announced the acquisition of a majority stake in start-up Cockorico, a French brand specialising in ready-to-serve cocktails.
Founded in Lyon in 2019 by three spirits and hospitality business experts, the brand makes a range of premium pre-mixed, ready-to-serve bottled cocktails.
“We are delighted to begin this partnership with Cockorico, which has experienced exceptional growth since its creation,” said Philippe Coutin, chairman of Pernod Ricard France. “We firmly believe that we will achieve even more together by leveraging both the strength of our distribution network and our expertise in ready-to-serve products. Our collaboration also opens up opportunities to develop new projects together through the combination of our highly complementary innovation capabilities”.
The acquisition will help Cockorico to accelerate growth thanks to the Pernod Ricard distribution network.
Financial terms of the acquisition were not disclosed.