27th Jan 2014 12:25
LONDON (Alliance News) - Diageo PLC, the spirits and alcoholic beverage giant, said Monday it has acquired the super-premium tequila brand Peligroso.
Diageo has been adding to its portfolio of premium tequila brands, after earlier this month announcing that it has formed a new joint venture with Combs Wine & Spirits, a privately owned premium spirits and wine business founded by rapper and entrepreneur Sean ?Diddy? Combs, for the acquisition of the tequila brand DeLeón.
Diageo purchased the brand from the California-based Peligroso Spirits Company LLC. It didn't provide the acquisition price.
"Acquiring Peligroso is part of Diageo?s strategy of creating a collection of superb quality and distinctive tequilas at complimentary price points to appeal to a wide range of consumers,? said Larry Schwartz, president of Diageo North America in a statement, adding: "This will position Diageo strongly to capture the range of emerging consumer trends that will shape and drive the next few years of category value growth."
Diageo shares were trading 0.7% lower at 1,933.25 pence per share Monday midday.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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