Canada-based drinks group Mosaiq has said it has agreed to acquire global sales and marketing rights to Pernod Ricard rum brand Lemon Hart for an undisclosed sum.
Mosaiq will also produce the rum brand from the end of June 2010, the end of Pernod’s financial year, the Canadian group said today (15 February).
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Financial details of the deal were not disclosed.
Lemon Hart, a Guyanese rum, takes its name from its creator and was first produced with imported rum in the UK in 1804. It is currently sold in Canada by Pernod subsidiary Corby Distilleries.
“This purchase solidifies our strategic vision to expand our national presence within select categories, through acquisition and agency representation,” said Pierre Thériault, executive vice president of Mosaiq.
Canada is Lemon Hart’s biggest market and Corby sold 36,000 nine-litre cases in 2009, Mosaiq told just-drinks.
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By GlobalDataIt said the acquisition will give it a market-leading 41% share of the dark rum segment in Canada.
The rum is currently produced at Hiram Walker in Windsor, Ontario. “We will be making an announcement within weeks regarding the production facility to where Lemon Hart will be transitioning to, once a final supply agreement is in place,” said Mosaiq, which also sells and markets Cockspur rum in Canada.
Pernod Ricard, which is around EUR0.8bn of the way through a EUR1bn asset disposals plan, has confirmed that the deal has been agreed.
Earlier today, Pernod announced the sale of Nordic drinks assets for a total EUR82m (US$112m).
