Pernod Ricard takes stake in Lewis Hamilton’s non-alcoholic spirit firm

Pernod Ricard has acquired an undisclosed minority stake in Almave, the non-alcoholic spirit brand co-founded by Formula One champion Lewis Hamilton, Mexican spirit supplier Casa Lumbre and investment firm Copper.

The blue agave-based non-alcoholic tequila is a passion project for Hamilton and is distilled in Jalisco, Mexico, without fermentation.

The drink is crafted around two expressions: Almave Blanco with a fruity green vegetal aroma, suitable for mixing, and Almave Ámbar, which can be mixed or sipped, thanks to notes of cooked agave, caramel and vanilla.

Pernod Ricard will bring its experience in brand building and global distribution, with a line-up including Malibu, Jameson and Havana Club, to help scale this product to several markets throughout the world. The partnership is also intended to add a complementary brand to Pernod Ricard’s agave spirits portfolio.

Alexandre Ricard, chairman and CEO of Pernod Ricard, said: “With Almave, Lewis Hamilton and Casa Lumbre have designed something that is truly exceptional in terms of quality, taste, and positioning. Agave is a highly sought-after category across the world. Having a non-alc proposition in our premium portfolio that pays full tribute to the craft and savoir-faire of its traditional distillation makes it a true gem. I’m very excited to see Pernod Ricard support the development and fulfil the true potential of Almave.”

Hamilton said: “When I decided to embark on this project it was important to me to find partners who could help me realise my vision without compromise. I am proud we were able to do that, not just in quality and taste but also with real ingredients and time-honoured techniques.

“It’s exciting that Pernod Ricard has become an official stakeholder in Almave; allowing us to unleash the potential of the next stage of our journey and help take Almave to even more people around the world.”

Ivan Saldaña, co-founder and master distiller of Casa Lumbre, added: “Casa Lumbre is proud to continue its record of partnering with individuals and companies who can support our vision of representing Mexico’s national spirit and plant in an authentic way beyond proof. Being able to achieve that type of faithful education to people in all corners of the world is a dream. Thanks to Pernod Ricard, it will soon become the global reference of this very innovative category.”

Hamilton also backs plant-based fast food chain Neat, which rebranded from Neat Burger earlier this year.

Meanwhile, Pernod Ricard sold its wine division to Accolade Wines owner, Australian Wine Holdco in July. The transaction involved brands including Jacob’s Creek and Campo Viejo.