Proximo Spirits takes over Jose Cuervo US distribution

4th March, 2013 by Becky Paskin

Proximo Spirits is to take over the US distribution of Jose Cuervo Tequila when Diageo’s contract ends on 30 June.

Jose Cuervo Diageo

Jose Cuervo Diageo

In a statement released this weekend, Juan-Domingo Beckmann, CEO of Casa Cuervo, said the move from Diageo to sister company Proximo Spirits signalled the “next chapter” for the world’s largest Tequila brand.

“Diageo has been a significant partner of Jose Cuervo for many years, but with ten generations of tequila-making in the family, Casa Cuervo is excited to embark on this next chapter in the strategic expansion of its world-renowned tequilas,” he said.

Diageo had been in negotiations with the Beckmann family to acquire the Tequila brand, as its existing distribution contract is due to expire at the end of June 2013. But discussions broke down in December last year after the pair failed to settle on a deal, resulting in Diageo refusing to renew its contract at all.

New Jersey-based Proximo, which is also owned by the Beckmann family, will gain control of Cuervo’s North America distribution from 1 July 2013.

Mark Teasdale, CEO for Proximo, said: “We plan to make considerable investments in brand building and innovation for the Jose Cuervo portfolio to accelerate its growth. After only five years of business, the Proximo team has more than doubled the size of 1800 Tequila and Three Olives Vodka, and created the most exciting spiced rum brand in the category, the Kraken.  We are looking forward to returning Jose Cuervo to its position as the most exciting tequila brand in the category.”

Securing new distribution for Jose Cuervo’s North American market is a major step forward for Casa Cuervo – it being the largest market for the brand outside Mexico. However as Diageo currently controls the brand’s global distribution, it’s thought Casa Cuervo will continue to seek new distributors in other markets before the 30 June deadline.

Leave a Reply

If that's interesting, how about these?

Beam Suntory buoyed by emerging markets

Suntory Holdings’ spirits arm Beam Suntory posted “mid-single-digit” more...

Heaven Hill 'diligently' hunts for acquisitions

Following its takeover of Deep Eddy Vodka in 2015, US spirits firm Heaven Hill more...

Stoli Group USA details exec appointments

Stoli Group USA has expanded its executive leadership team with a string of more...

Russian Standard Vodka makes debut in Iceland

Russian Standard Vodka has entered the Icelandic market for the first time more...

Our/Vodka inks Berlin distribution deal with GDP

Our/Berlin, the first distillery in Pernod Ricard’s ‘glocal’ network more...

Franklin and Sons enters 30th market

British tonic and mixer brand Franklin & Sons has claimed to “defy Brexit more...

Mattioni: Premium rums will ‘definitely develop’

The premium-plus rum segment in the UK will "definitely develop", driven by more...

Diageo pips BP to FTSE 100 social top spot

Drinks group Diageo has been named the most effective FTSE 100 company at more...

Asahi Group’s spirits business slips 6.1%

Nikka owner Asahi Group saw its full-year whisky and spirits sales contract more...

Amber Beverage tours Fabrica de Tequilas Finos

After recently acquiring Fabrica de Tequilas Finos, Amber Beverage Group more...

Pernod Ricard eyes further acquisitions

Following Pernod Ricard’s re-entry into American whiskey with its Smooth more...

Royal Dragon Vodka to grow GTR presence

Royal Dragon Vodka has announced a partnership with Gebr. Heinemann as part of more...

Barrie moves from Bowmore to BenRiach

Rachel Barrie, master blender at Beam Suntory division Morrison Bowmore more...

Bids open in Buffalo Trace charity auction

Following a 200-bottle charitable donation from Buffalo Trace, one more...

Brown-Forman launches nutritional info site

Jack Daniel’s maker Brown-Forman has launched a website detailing its brands' more...

Brown-Forman extends MSX TR logistics deal

Brown-Forman has extended its travel retail logistics contract with Macintyre more...

Bacardi buys minority stake in Ilegal Mezcal

Bacardi has confirmed its acquisition of a minority stake in Ilegal Mezcal, but more...

Tito’s vodka ramps up US TR activity

Tito’s Handmade Vodka has launched a series of “high impact” activations more...

Writers Tears secures Australian distribution

Walsh Whiskey Distillery has named Spirits Platform as the distributor of its more...

The Dubliner 10 Year Old lands in US

Quintessential Brands has launched The Dubliner 10 Year Old, the newest more...