The deal is a 50/50 joint venture between Diageo and Diddy's Combs Wine & Spirits, which will build on the strategic alliance formed for the launch of the Cîroc vodka brand.
Since the launch of Ciroc in 2007, the vodka has grown from 50,000 cases a year into nearly 2 million. With the backing of Diageo, DeLeón will benefit from the spirits giant's distribution, supply chain, and marketing, as well as Diddy's access to influencers.
"Celebration is a cornerstone of all my businesses, and this joint venture is a natural extension of that portfolio," said Diddy. "DeLeón is an outstanding brand that appeals to those who love exceptional tequila in a distinctive bottle. Together with Diageo, we will take DeLeón to new heights."
DeLeón is a blue weber agave tequila. Bottles retail from $120 to over $1,000 per bottle.
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