Diageo and Sean ‘Diddy’ Combs ink deal to co-own DeLeon tequila brand
Diageo and US rapper Sean ‘Diddy’ Combs have announced a joint venture to launch DeLeon in the US.
Diageo and Combs bought the premium tequila brand for an undisclosed figure, each taking a 50 per cent stake, and will look to increase its presence in the US where it is currently only available in 18 States.
It comes on the back of a separate partnership the two have had since 2007, which has seen Combs promote Diageo’s Ciroc vodka brand.
“Expanding our relationship with Sean Combs into tequila was a natural choice given Sean’s ability to galvanize support for luxury brands,” said Diageo North America president, Larry Schwartz.
Schwartz added that “the joint venture ... is Diageo's latest step towards returning to a leading position in tequila in North America", referencing the world’s largest tequila brand, Jose Cuervo, which it stopped selling last year.
After the deal went through, Diageo shut down DeLeon's website which now carries a ‘Coming Soon’ message.