FDBusiness.com

Diageo Completes Acquisition of Tequila Don Julio

 Breaking News
  • Autumn Chill Puts Sunday Lunch Back on the Menu For UK Shoppers UK shoppers have returned to seasonal favourites as supermarket spending cools off, according to the latest figures from Kantar Worldpanel, for the 12 weeks to 7 October 2018. Overall sales grew 3.2% compared to the same 12 weeks last year. Though this is a slight slowdown from the highs reached during 2018’s hot summer, sales [...]...
  • Müller Milk & Ingredients Completes Integration and Appoints CFO Brian Watson has been appointed as Chief Finance Officer at Müller Milk & Ingredients (MMI). He joins the business from Marmon, a $7.7 billion Berkshire Hathaway company operating in the supermarket and food service sector. The appointment comes as MMI confirms completion of the biggest integration the UK dairy industry has ever seen – merging [...]...
  • Emmi Leads by Example As a manufacturer of speciality cheeses, Swiss dairy group Emmi is now setting an example for environmental protection by investing in a high-performance photovoltaic system at its Platteville site in the state of Wisconsin in the US. With 1,600 panels installed on the roof, the system can cover 15% of the company’s electricity requirement. The [...]...
  • Kerry Group Commits €1 Million to Bring RAIN Programme to West Africa Kerry Group has extended its partnership with Concern Worldwide through a 4-year project to improve food security and nutrition in Niger. The Realigning Agriculture to Improve Nutrition (RAIN) programme will make lasting improvements to food security, nutrition and the overall livelihoods in the Tahoua Region of Niger. This second phase of the RAIN programme will [...]...
  • Greencore to Divest US Business in $1 Billion Deal Greencore Group, the Irish and UK convenience food business, has agreed to sell its entire US business to an affiliate of Hearthside Food Solutions for US$1.075 billion (£817 million) on a cash and debt-free basis. Hearthside is a major US contract food manufacturer with a heritage in US food industry outsourcing. The disposal will leave [...]...

Diageo Completes Acquisition of Tequila Don Julio

Diageo Completes Acquisition of Tequila Don Julio
March 04
09:17 2015

Diageo has 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, comments: “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 adds: “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.”

Diageo acquired full global ownership and control of Tequila Don Julio from Casa Cuervo, the Mexican tequila and spirits group. The deal also entailed the early termination of Casa Cuervo’s production and distribution agreement for Smirnoff in Mexico. In return, Diageo sold its Bushmills Irish whiskey business to Jose Cuervo Overseas. The transaction involved a net payment of $408 million to Diageo upon completion.

 

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 18, 2018Future Food-Tech London - Marketing Partnership
  • October 21, 2018Int'l Food Products Exhibition (Sial)
  • October 25, 2018Italian Espresso Coffee Show (TriestEspresso Expo)
  • October 25, 2018Finnish Food Fair
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements