Pernod Ricard Buys Minority Stake in Non-Alcoholic Brand Almave

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Pernod Ricard said it has bought a minority stake in non-alcoholic spirit brand, Almave.The French distiller said Almave is a blue agave-based spirit brand founded by British Formula One driver Lewis Hamilton, Mexico-based incubator Casa Lumbre and advisory and investment firm Copper.Pernod added that agave-based drinks were highly sought after and that the purchase allows the company--which houses brands such as Absolut vodka and Ballantines whisky--to cater to a growing trend for non-alcoholic products.Pernod didnt disclose financial details of the purchase.

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