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Diageo in talks with Beckmanns again
Diageo is reportedly once again in talks with the Beckmann family about greater ownership of the Tequila brand José Cuervo.
Advisers from both parties are supposed to have recommenced talks in the past two weeks.
Diageo currently distributes the spirit but recently has been seeking greater control.
Back in August it was reported that the British drinks giant was close to sealing a US$3 billion deal to gain more control but it fell through leading CEO, Paul Walsh, to announce that he would rather “walk away” from the brand than renew the current distribution contract which expires next year.
This Is Money, added that Walsh was playing “hardball” with the Beckmann family, although whether he would simply drop José Cuervo is another matter as it is one of Diageo’s top “strategic brands” and gives Diageo access to the growing Tequila market in the Americas.