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Pernod Ricard takes 34% stake in Yoma whisky joint venture
FRENCH spirits giant Pernod Ricard has completed a deal to take a 34 per cent stake in Seagram MM Holdings, a joint venture between mainboard-listed Yoma Strategic, the Win Brothers and Delta Capital Myanmar which will produce and distribute whisky in Myanmar.
Seagram MM Holdings is the holding company of Seagram Myanmar Company, a subsidiary housing Seagram’s whisky brands Seagram High Class and Seagram Imperial Blue.
The subsidiary also operates a manufacturing site in Yangon and 10 commercial branches nationwide and has a paid up share capital of 5.64 billion kyat (S$5.1 million).
Following Pernod Ricard’s share subscription, Yoma Strategic now holds 19.8 per cent of Seagram MM Holdings, while Win Brothers - U Htun Win and U Zaw Win - hold 33 per cent, and private equity firm Delta Capital Myanmar, 13.2 per cent, said the Singapore company in an exchange filing on Sunday.
The deal was first announced in May 2018. It said then that Pernod Ricard will take the lead in the management of production facilities, distribution network, and the brand portfolio of Access Myanmar Distribution Company, the current joint venture between Yoma Strategic, Win Brothers and Delta Capital Myanmar.
According to the companies, this includes access to more than 40,000 points of sale, 43 major wholesalers, 230 delivery vehicles and 250 employees dedicated to sales and marketing, as well as the High Class Whisky brand.
Yoma Strategic shares last closed at S$0.385 on Friday, up one Singapore cent or 2.7 per cent.