Photo: Jose Cuervo Could be Sold
The British spirits group, Diageo, is getting close to becoming the owners of the Jose Cuervo tequila brand according to some reports. The eponymous Mexican tequila brand has been privately held for 200-years by the Beckmann family.
Diageo owns many popular liquor brands like Guiness, Johnnie Walker and Smirnoff Vodka, but no tequila brand. For the last nine-years Diageo has been the U.S. distributor for the tequila.
The purchase by Diageo could result in a multi-billion dollar sales transaction according to the Telegraph UK. The price reflects Jose Cuervo’s world market leader position thanks in great part to being the first to produce tequila.