By James Atkinson

Diageo has sold the Bushmills Irish whiskey brand to Jose Cuervo, in a swap deal that gives Diageo full global ownership and control of Tequila Don Julio.

Diageo already owned 50 per cent of  Don Julio and will receive the balance of equity in the brand along with $US408 million from Casa Cuervo as payment for Bushmills.

Diageo chief executive Ivan Menezes said the transaction delivers on two key objectives for the company. "We have secured our position in the growing super and ultra-premium segments of the tequila category and further strengthened our global footprint by expanding our leading position in Mexico where the growth of spirits has great potential," he said.

Bushmills had volume of 800,000 cases and net sales of £57 million in the year ended June 30. Tequila Don Julio had total volume and net sales of 590,000 cases and £105 million over the same period.

The Shout Team

The leading online news service for Australia's beer, wine, spirits and hospitality industries.

Leave a comment

Your email address will not be published. Required fields are marked *