Pernod Ricard invests in Africa's online retailer Jumia

French spirits group Pernod Ricard, which is targeted by activist investor Elliott Management, said on Tuesday it was buying an unspecified stake to become a “strategic shareholder” in Jumia, Africa’s leading online retailer.

The two companies will develop innovative distribution strategies in the region, the companies said in a statement.

Pernod Ricard, which is present in 13 African countries, will share its expertise on consumers and physical distribution networks, while Jumia will bring its digital, logistics and payment platforms.