Pernod Ricard takes a swig of Jumia

French alcoholic drinks group Pernod Ricard has acquired an unspecified stake in Africa-focused internet retailer Jumia. Terms have not been disclosed. Jumia is owned by Rocket Internet, MTN, AXA, Goldman Sachs, Orange and CDCI, and, as previously discussed, it likely to have an IPO this year. Pernod Ricard owns such brands as Absolut Vodka, Beefeater gin, Jameson whiskey and Malibu rum.
Gilles Bogaert, head of Pernod Ricard in Europe, the Middle East, Africa and Latin America, commented “Pernod Ricard has made Africa its new frontier, as shown by the successive openings of subsidiaries over the last few years.” He added “Our business relationship with Jumia traces back to 2016 with the successful launch of Jumia-Party, Jumia’s e-commerce platform based on the idea ‘We deliver. You Party’ … This innovation has experienced solid growth in such cities as Lagos, Nairobi and Accra.”
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