Pernod Ricard Plans Expansion in Myanmar
Pernod Ricard, the second-largest wine and spirits company globally, is intensifying its whisky footprint in Myanmar. Having acquired a majority stake in a new joint venture with private equity firm Yoma Strategic Holdings Ltd, this partnership will focus on the production and distribution of whisky in Myanmar. This makes French Pernod Ricard the first major global producer of wine and spirits to have established a formal presence in this south-east Asian country.
As a part of the deal, Pernod Ricard will become the largest shareholder in the new company by appointing a senior and internationally experienced management team to head the operations in the country. The remaining equity will be shared by private equity firms, Delta Capital Myanmar, Yoma Strategic and Win Brothers distillery group. This will incorporate Yoma’s Myanmar-made High Class whisky brand into Pernod Ricard’s portfolio, thus accelerating the progress of Pernod’s Chivas and Ballantine’s whisky brands in Asia.
The leadership team at Yoma Strategic are positive about the French firm’s strong commitment strengthening their operations with their expertise in tapping the local market, distribution, marketing, and production. As per the agreement, Pernod Ricard will take ownership and lead the management of the production facilities, distribution network and brand portfolio of Access Myanmar Distribution Company Ltd - the current joint venture between Yoma Strategic, Delta Capital Myanmar and Win Brothers. Access Myanmar Distribution Company also owns Yoma’s High Class Whisky brand, the country’s leading whisky brand and is the producer and distributor of drinks.
Pernod Ricard’s leaders deem Myanmar fit to invest in and promote further, as it is believed to be an extremely promising and dynamic market based on their accelerating economic progress in the past years. Through this joint venture, Myanmar becomes the 86th country where Pernod Ricard has established yet another direct affiliate – all with hopes to consolidate its position in Asia, particularly in the whisky market segment.
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