Pernod Ricard kicks off Myanmar spirits JV

Pernod Ricard has completed the formation of its Myanmar spirits joint-venture.

The partnership, first announced last year, sees Pernod begin operations in Myanmar with existing joint-venture Access Myanmar Distribution Co. just-drinks understands that Pernod will take a 34% stake in the new arrangement, with the remaining control shared among Access’s three partners.

The JV will focus on the High Class whisky brand, which is produced in Yangon and Mandalay. Pernod is expected to take the lead in the management of production facilities, distribution network and brand portfolio.

A Pernod spokesperson told just-drinks: “Myanmar is a dynamic market with a lot of promise. High Class … already has a solid foundation, and Pernod Ricard is committed to growing the brand further by leveraging the group’s experience and capabilities.”

The three other members of the JV are Singapore-listed conglomerate Yoma Strategic Holdings, private equity group Delta Capital Myanmar and local spirits producer Win Brothers.

Pernod will face competition in Myanmar from ThaiBev’s International Beverage Holdings. The unit spent almost US$750m in 2017 on 75% stakes in both Myanmar Supply Chain & Service Co and Myanmar Distillery Co. The purchases saw IBH take majority control of Grand Royal, the country’s biggest-selling domestic whisky brand.

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Source: Just-Drinks

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