Diageo completes acquisition of Tequila Don Julio
Diageo, a global leader in beverage alcohol, has today completed the acquisition of full global ownership and control of Tequila Don Julio following the receipt of all regulatory approvals
The acquisition strengthens Diageo''s position in the growing super premium and above tequila segments globally and the important tequila market in Mexico with an already strong and well-positioned brand. Gaining full ownership and distribution rights for Tequila Don Julio and Tres Magueyes, alongside the ''La Primavera'' distillery, inventory and agave supply, gives Diageo the ability to make investment decisions across supply, marketing, and innovation to support the continued growth of the brand, and become more competitive in the category.
Ivan Menezes, Chief Executive of Diageo, commented: "I am delighted to have completed this acquisition which delivers on our strategy to build our presence in the world''s fastest growing markets and to invest behind the biggest growth opportunities. Tequila is an important global category with tremendous growth potential and with the purchase of Tequila Don Julio we now have full ownership of a leading ultra-premium brand."
Erik Seiersen, Managing Director of Diageo Mexico added: "This transaction marks a significant milestone for Diageo in Mexico. It transforms our business as a leading local employer, producer, and exporter of one of Mexico''s most important products and reinforces our leading position within premium spirits with the return of Smirnoff and the addition of Tequila Don Julio in its entirety to our portfolio."