Monkey 47 gin has a new Owner
Steve’s breakdown: Pernod Ricard has taken a majority stake in this high rising gin. Expect them to put some marketing muscle behind the brand which could be looking for a new agency.
NEW YORK, NY: With high-end gin far outpacing overall category growth, Pernod Ricard has obtained control of Monkey 47, one of gin’s most dynamic performers in recent years. Pernod purchased a majority stake in Monkey 47’s owner, Black Forest Distillers GmbH, for an undisclosed sum.
While Monkey 47 remains quite small, its growth over the past five years has been impressive, as the upscale German gin has become a favorite of mixologists in trendy bars across Europe and Asia.
Gin has struggled for years in the U.S., as the category’s leading brands—including Pernod’s own Seagram’s and Beefeater—have lost ground. However, gin’s high-end segment is achieving solid progress. Though Monkey 47 doesn’t have much of a presence in the U.S., that may well change. “We want to not only develop the brand further in Germany but also to expand Monkey 47 globally in the future,” said Pernod Ricard Deutschland managing director David Haworth.