Sean Combs, Diageo Team Up to Buy DeLeón Tequilia

The ultra-premium tequila can sell for more than $1,000 a bottle

   

Sean Combs, Diageo Team Up to Buy DeLeón Tequilia

Sean Combs — a.k.a. P. Diddy — and Diageo (DEO) teamed up to buy DeLeón Tequilia.

diageo Sean Combs, Diageo Team Up to Buy DeLeón Tequilia

DeLeón Tequilia is a small brand of alcoholic drinks that can sell in Hollywood for over $1,000 a bottle. It’s unknown how much the two investors spent to purchase the brand, but they each own 50% of the brand. The market for DeLeón Tequilia is small, and the brand only sells around 10,000 nine-liter cases a year in 18 U.S. states. However, Diageo believes it can become a top player in the United States’ tequila market with the help of the brand, reports The Wall Street Journal.

“Celebration is a cornerstone of all my businesses, and this joint venture is a natural extension of that portfolio,” Combs told The Los Angeles Times. “DeLeon is an outstanding brand that appeals to those who love exceptional tequila in a distinctive bottle.”

Diageo currently has five different types of tequila that sell for anywhere from $120 to $1,000 a bottle, the L.A. Times notes.


Article printed from InvestorPlace Media, http://investorplace.com/2014/01/sean-combs-diageo-deleon-tequilia/.

©2014 InvestorPlace Media, LLC

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