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Pernod Ricard targets Africa with Jumia e-commerce stake purchase

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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

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