US Rapper P Diddy acquires DeLeón Tequila
US rapper, Sean “Diddy” Combs, has advanced further into the spirits market by acquiring premium Tequila brand DeLeón.
The joint acquisition, by Combs and drinks giant Diageo, was confirmed today.
The Tequila brand was founded by drinks entrepreneur Brent Hocking in 2008 and entered the US market in 2009 accompanied by a series of sexy advertisements and has since built a loyal following in Hollywood and the U.S. music industry.
The luxury collection, which is priced between US$120 and US$1,000, consists of Diamante, Reposado, Añejo, and Extra Añejo bottlings as well as a limited edition 100% blue agave expression called Leóna.
According to the New York Post, Diddy served bottles of the Tequila at his renowned New Year’s Eve party.
The music mogul is already part owner of Diageo’s Cîroc Vodka and in 2013 founded Combs Wine & Spirits.
Of his new venture Combs said: “Celebration is a cornerstone of all my businesses, and this joint venture is a natural extension of that portfolio.
“DeLeón is an outstanding brand that appeals to those who love exceptional Tequila in a distinctive bottle.
“Together with Diageo, we will take DeLeón to new heights.”
This news marks a significant move by Diageo, whose position in the Tequila market has been under question since its loss of Jose Cuervo in December 2012.
Larry Schwartz, president of Diageo North America, said: “The joint venture with Combs Wine & Spirits and its purchase of DeLeón is Diageo’s latest step towards returning to a leading position in Tequila in North America.”
In September last year, Diageo and Diddy released Cîroc Amaretto, joining Cîroc Peach, Cîroc Coconut and Cîroc Red Berry in the brand’s line-up of flavoured bottles.