Pernod Ricard will acquire the largest stake in the joint venture with Yoma Strategic, Win Brothers and Delta Capital Myanmar. The joint venture will focus on the production and distribution of whisky in Myanmar.
“The move further consolidates Pernod Ricard’s leading position in Asia, notably in the whisky category with Chivas, Ballantine’s and Seagram’s whiskies popular in the region,” says Pernod Ricard.
“Myanmar will be the 86th country in which Pernod Ricard has established a direct affiliate.”
Whisky expansion
Pernod Ricard will take the lead in management of the production facilities, distribution network and brand portfolio of Access Myanmar Distribution Company Ltd (AMDC), the existing joint venture between Yoma Strategic, Win Brothers and Delta Capital Myanmar.
AMDC has a distribution network covering around 80% of the country. This includes an access to more than 40,000 points of sale, 43 major wholesalers in key demand centers, approximately 230 delivery vehicles and around 250 staff dedicated to sales and marketing. The JV also owns the second largest domestic whisky brand, High Class Whisky.
Philippe Guettat, Chairman & CEO, Pernod Ricard Asia said: “We are delighted to start our journey in Myanmar, a very promising and dynamic market which has seen tremendous economic progress over the past years. High Class Whisky has already built a solid foundation in the market, and we are committed to growing the brand further by leveraging our experience and capabilities.”
Joint venture partners
Pernod Ricard: the world’s #2 in wines and spirits with consolidated sales of €9bn ($10.5bn) in 2016/17. Its brands include Absolut Vodka, Ricard pastis, Ballantine’s, Chivas Regal, Royal Salute and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Malibu liqueur, Mumm and Perrier-Jouët champagnes, as well Jacob’s Creek, Brancott Estate, Campo Viejo and Kenwood wines.
Yoma Strategic Holdings: a business corporation with a portfolio of businesses in Real Estate, Consumer, Automotive & Heavy Equipment, Financial Services and Investments in Myanmar.
Win Brothers: owner of a distillery group with production facilities in Yangon and Mandalay.
Delta Capital Myanmar: provider of growth capital to entrepreneurs and businesses active across key growth sectors of Myanmar’s economy.
Picture credits: getty matucha and getty peterhermesfurian