Pernod Ricard to Buy Stake in Tequila Maker Backed by Country Star George Strait
Pernod Ricard SA has agreed to buy a majority stake in Codigo 1530 Tequila, a premium spirits brand backed by country-music star George Strait, in the distiller’s latest move to boost its exposure to high-end booze in the U.S.
The French company said late Monday it would pay an undisclosed sum to acquire a majority stake in Codigo, which produces a range of ultrapremium and prestige tequilas.