Pernod Ricard continues to lower debt after completing the sale of Tia Maria to Illva Saronno for $183 Million (US). Tia Maria, was the first coffee liqueur with broad based appeal in America and is made with a cane spirit base from rich Jamaican Blue Mountain Coffee beans with hints of Vanilla. The brand was created after World War II by Dr. Evans a member of the Kingston Country Club as the perfect after dinner cordial.
Illva Saronno is one of the leading European wine and spirits groups and is wholly owned by the Reina family, who manufactures and markets Disaronno Originale, the world’s best selling Italian liqueur in more than 150 countries. They also represent and market spirit brands including Rabarbaro Zucca, Amaro 18 and Artic Vodka, as well as Vini Corvo, Cantine Florio, Duca di Salaparuta in the wine sector.
Pernod Ricard purchased the brand in 2005 through their Malibu-Kahlúa International subsidiary, and retains those brands. Illva Saronno has appointed Chivas Brothers Limited to produce Tia Maria and will retain some transitional short term distribution resources.
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