Pernod Ricard USA has completed its acquisition of the remaining stake in Avión Spirits LLC, owner of the tequila brand Avión, from its joint-venture partner Tequila Avión.
Brand Founder Ken Austin (whom our sister publication interviewed in 2015) and President Jenna Fagnan, along with Grammy Award-winner Jeezy, will remain involved and financially incentivized until at least 2020 to help fuel Avión’s growth, the company says.
“The Pernod Ricard people, distributors and brokers have been and will continue to be key drivers in taking Avión to the next level,” says Austin.
Pernod Ricard first purchased a majority share in the brand in 2014.
“Avión has become a leading aspirational lifestyle brand in the fast-growing ultra-premium tequila category,” says Paul Duffy, CEO of Pernod Ricard USA. “This acquisition is important for Pernod Ricard USA as we focus on premiumization and building brands that consumers are passionate about. We look forward to continuing to develop and grow this exciting brand.”