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.