Jeezy and his Tequila Avion partner, Ken Austin, have sold the remaining stake in their tequila brand to global spirits company Pernod Ricard.
This week the French drinks giant confirmed it had purchased the remaining shares in the company for an undisclosed sum, taking 100% ownership as part of its growth and innovation strategy in the United States.
Patrón, which pioneered the U.S. market’s thriving luxury Tequila segment, is now facing competition from a bevy of high-end entrants including Don Julio, Avión, Casamigos and others.
What do Casamigos, Avión, and Clase Azul tequilas all have in common? All are made in the same distillery, located in a town called Jesús María in the Los Altos region of Jalisco, Mexico.
Flavored whiskeys are hot sellers. Now it is Mexico’s turn to experiment.
The luxury Tequila category, whose impressive success has been driven in recent years by brands like Patrón, Don Julio and Avión, has seen an influx of surging new entrants that are propelling the segment to even stronger growth in 2015. Casamigos, DeLeón
Tequila, perhaps more than any other spirits category, has undergone a dramatic transition within the U.S. market over the past two decades.
Patron and Pernod Ricard are among the tequila producers leading the age-statement charge.
Pernod Ricard USA has completed the acquisition of a significant majority stake in Avión Spirits LLC, owner of the ultra-premium tequila brand Avión, from its joint-venture partner Tequila Avión.