DIAGEO BOOSTS TEQUILA PORTFOLIO

DRINKS COMPANY Diageo has added to its tequila offering with the acquisition of super-premium brand Peligroso. The deal comes three weeks after Diageo and rapper-turned-business mogul Sean “Diddy” Coombs teamed up to buy luxury tequila brand DeLeon. Peligroso, founded by two avid surfers, is popular in the action sports and surfing scene of southern California and will give the firm a foothold in super premium $2O-$4O tequila, the fastest growing tequila segment in the US, according to Nielsen. Diageo, whose other spirit brands include Johnnie Walker whisky and Smirnoff vodka, let its distribution agreement with Jose Cuervo’s owner, the Beckmann family expire after failing to get an equity stake. According to Diageo’s North America President Larry Schwartz, the deal is not going to be the last in its tequila portfolio.