News

Pernod Ricard targets Africa with Jumia e-commerce stake purchase

Most popular

Mangrove MD warns of coronavirus impact on spirits

Could coronavirus make for more caring companies?

Advice for brewers in the time of COVID-19

Provenance and quality not enough for spirits - II

Coronavirus special - US Distilled Spirits Council

MORE

Pernod Ricard has bought into African e-commerce company Jumia in a move designed to improve the group's distribution across the continent.

Pernod will become a "strategic shareholder" in African e-commerce business Jumia

Pernod will become a "strategic shareholder" in African e-commerce business Jumia

Earlier today, Pernod confirmed its acquisition of an unspecified stake in Jumia. The move comes after the two teamed up in Kenya and Ghana to launch a one-hour alcohol delivery service through an app called Jumia Party.

As a "strategic shareholder", Pernod said the two companies "will develop innovative distribution strategies on the African continent".

When contacted by just-drinks, a spokesperson for Pernod declined to give further details on either the size of the stake or the price paid.

"Pernod Ricard has made Africa its new frontier, as shown by the successive openings of subsidiaries over the last few years," said Pernod's CEO for LATAM & EMEA, Gilles Bogaert. "We strive to transform to strengthen our growth in this very promising continent. Jumia is a partner of choice as digital and e-commerce represent real strategic accelerators in this region for us." 

Founded in 2012, Jumia claims to be the leading pan-African e-commerce platform active in 14 African countries.

Last week, Pernod was moved to defend itself from charges levelled by activist investor Elliot Management Corp that accused the group of underperforming its peers "on several metrics".

Should Pernod Ricard dump wine and bunk up with Brown-Forman? - Click here for a just-drinks analysis?


Sectors: Wine

Companies: Pernod Ricard

Related Content

Pernod Ricard adds to e-commerce footprint in Spain with Uvinum and Bodeboca buys

Pernod Ricard adds to e-commerce footprint in Spain with Uvinum and Bodeboca buys...

"Not being in the American whiskey category has been something we wanted to change" - just-drinks sp...

How did Pernod Ricard perform in fiscal-2019? - results data

How did Pernod Ricard perform in fiscal-2019? - results data...

"Africa is Asia in 15 to 20 years from today" - just-drinks speaks to Pernod Ricard CEO Alex Ricard...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?