French wine and spirits maker Pernod Ricard has completed a deal to buy a 34 per cent stake in Seagram MM Holdings, a joint venture between Singapore-listed Yoma Strategic Holdings, U Htun Win and U Zaw Win (the Win brothers), and Delta Capital Myanmar.
Seagram MM Holdings is the holding company of Seagram Myanmar, which owns the High Class whisky brand.
Following the transaction, Yoma holds a 19.8 per cent stake in Seagram MM, while the Win brothers own 33 per cent and Delta Capital Myanmar, 13.2 per cent, respectively, according to a Singapore stock exchange filing.
The deal was announced in May 2018 and marked the first Myanmar foray by a major global producer of wine and spirits.
According to the announcement last year, Pernod Ricard was set to take the lead in the management of the production facilities, extensive distribution network and brand portfolio of Access Myanmar Distribution Company, the current joint venture between Yoma Strategic, Win brothers and Delta Capital Myanmar.
The JV provides access to more than 40,000 points of sale, 43 major wholesalers in key demand centres, approximately 230 delivery vehicles and around 250 staff dedicated to sales and marketing, apart from the High Class Whisky brand.