Pernod Ricard Invests In Ready-To-Drink Beverages Via A French Cocktail Brand Cockorico, New American Facility

Pernod Ricard is betting on ready-to-drink cocktails. Just before Christmas, Pernod Ricard France acquired a majority stake in Cockorico, a Lyon-based ready-to-serve brand of mixed drinks.

The Paris-headquartered group will provide distribution and guidance to the founders of the brand.

Cockorico was founded in 2019 by hospitality veteran Marc Bonneton and businessmen Julien Maurel and Geoffroy Clavel.

This news comes a month after Pernod Ricard USA announced the opening of a dedicated RTD canning line at the company’s Hiram Walker plant in Fort Smith, Arkansas. Cockorico is Pernod Ricard’s first investment in the pre-mixed cocktail space outside of flagship brands, including Malfy, Altos, Jameson, Malibu, and Beefeater. The current RTD portfolio includes Malibu Pineapple Bay Breeze, Absolut Vodka Sodas and Jameson Ginger & Limes.

“The ready-to-drink category is the fastest growing categories in Beverage Alcohol, and this is expected to continue for the foreseeable future,” noted Natalie Accari, VP of RTD & Convenience, via email. “Consumers are particularly enjoying spirit based RTD offerings that deliver premium, bar-quality cocktails in a convenient format that work for any occasion. We are investing in this category to meet this consumer demand and extend the opportunity to enjoy our brands.”

Cockorico focuses on ready-to-serve, pre-mixed cocktails, ranging from the classic (martinis, Old Fashioneds) to the quirky (Cosmopolitans, Pornstar Martinis, Espresso Martinis). There’s also several different original offerings, including the Blonde B (vodka, yellow citrus, mint cordial, vanilla) and the Gin Garden (basil, gin, chartreuse, citrus cordial).

Pernod Ricard has not shared sales volumes or purchase price.

“We are delighted to begin this partnership with Cockorico, which has experienced an exceptional growth since its creation,” notes Philippe Coutin, chairman of Pernod Ricard France in a press statement. “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.”

Through the Pernod Ricard partnership, founder Bonneton notes Cockorico will focus on accelerating their development. Currently, the brand is only available for purchase in France.

In November, Pernod Ricard invested US$22m at its Fort Smith production facility, with the aim of improving its RTD manufacturing capabilities in the US.

“This long-term investment and our commitment to consumers is a testament to the tremendous growth we see in the category for years to come,” says Accari. “This new canning line allows us to have more control and agility to create products and packs that consumers love.

“We expect to see heightened demand for a diverse offering of ready-to-drink cocktails made with premium spirits and delicious mixers in new pack formats that meet every occasion. We expect that the category will continue to evolve in line with cocktail and bar trends.”