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Pernod Ricard invests in African online retailer Jumia


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Pernod Ricard invests in African online retailer Jumia

Pernod Ricard SA will invest an undisclosed sum in African online retailer Jumia and become a strategic shareholder of the company as the two reinforce their strategic partnership.

According to a Dec. 18 announcement, the French alcoholic drinks maker will collaborate with Jumia to distribute its products to more consumers in the region. Meanwhile, the funding from Pernod Ricard will allow Jumia to consolidate its regional leadership.

Under the agreement, Pernod Ricard will share its knowledge about consumers and physical distribution networks, while Jumia will provide its digital, logistics and payment platforms.

The collaboration builds on the companies' existing relationship, which was established in 2016 with the launch of Jumia's e-commerce platform, Jumia-Party. The platform offers one-hour deliveries of alcoholic drinks.

Jumia also operates a restaurant delivery platform and a hotel booking platform, which represent about 25,000 establishments in Africa.

Lazard acted as financial adviser to Jumia in the transaction.