Diageo completes Don Julio acquisition

Diageo has successfully gained full ownership of Tequila Don Julio, completing the company’s efforts to gain a foothold in the strengthening Tequila market.

The takeover gives Diageo 100% ownership of Don Julio’s brands Tequila Don Julio and Tres Magueyes, and assets including the La Primavera distillery in Mexico and the producer’s agave production.

Despite the deal coming at the cost of Diageo’s Bushmills Irish whiskey brand, which was traded to Casa Cuervo as part of the deal, the growing Tequila market was an area Diageo has been seeking to re-enter since it failed to acquire the Jose Cuervo brand in late 2012.

Casa Cuervo has paid Diageo $408 million for the trade and the early….