Kendall Jenner’s 818 Tequila Lands Sazerac Investment [Forbes]
Diageo plc (DEO)
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Source: Forbes
On Tuesday, Sazerac announced it was investing in 818 Tequila through a “strategic partnership and financial investment,” along with the exclusive rights to distribute the brand in the U.S. market. Terms of the transaction weren't disclosed. “I'm really proud of how far 818 has come in five years,” Jenner said in an email statement to me. “Starting as a brand launching only in Southern California, seeing how much we've grown as a team and a business since then has been surreal. We've been really intentional every step of the way. Now, I'm so proud to be partnering with one of the biggest alcohol companies to continue building the tequila brand for the next generation." The deal comes amid reports that Sazerac has offered $15 billion to buy Jack Daniel's maker Brown-Forman. If successful, that deal would combine Brown-Forman, whose brands include Woodford Reserve and Old Forester bourbons, with Sazerac, whose portfolio features the Buffalo Trace Distillery, Fireball Cinnamon Whisk
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