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?

Bacardi-Martini assigns Patrón activation partner

Bacardi-Martini UK has appointed launch marketing agency Five by Five to more...

Up to 1,700 staff affected by Diageo pension cuts

Diageo has confirmed that up to one third of its UK workforce could be affected more...

Jose Cuervo and Ford craft car parts from agave waste

Jose Cuervo has teamed up with Ford to experiment with the use of agave plants more...

'World's first' alcoholic ice cream van launches

A UK hotel group has launched what it claims is the world’s first alcoholic more...

Popcorn Sutton appoints master blender

Popcorn Sutton Distilling has named former distiller for Diageo’s George more...

US ultra-premium Tequila growth hits 15.5%

The ultra-premium Tequila market continues its emphatic US growth, with sales more...

Diageo's group strategy director steps down

Anna Manz, group strategy director at Diageo, is to leave the company in more...

Bruhn resigns as Smirnoff global brand director

Diageo has appointed a new global brand director for Smirnoff vodka as Matt more...

Armagnac association names new president

Négociant Marc Darroze has succeeded Corinne Lacoste-Bayens as president of more...

Alacran Tequila rolls out extra añejo offering

Independent Tequila brand Alacran Tequila has added an extra añejo expression more...

Calls for Dallas Dhu to move to public ownership

Scottish politician Richard Lochhead has asked Diageo to transfer ownership of more...

WSTA expresses 'confidence' in new PM May

The Wine and Spirit Trade Association has expressed “confidence” that new more...

Devotion Vodka adds nutritional info to labels

Devotion Vodka, touted as the “first” American gluten-free and sugar-free more...

Paul Hunnisett to lead ARI liquor team

Travel retailer Aer Rianta International has appointed Paul Hunnisett, former more...

Confessions of a spirits retailer: Dan Murphy's

Adam Jenkins, head of spirits for Australian drinks retailer Dan Murphy’s, more...

Reynier predicts 'scrabble' in craft brown spirits

Craft distillers are “in for a shock” when their brown spirits more...

Trade body for UK craft spirits launches

A new trade association has been established to represent the interests of more...

Finalists of Great British Cocktail comp revealed

A panel of expert judges has selected 10 cocktail recipes to be served at the more...

United Spirits tight-lipped over job loss reports

Diageo’s Indian drinks arm United Spirits has revealed it is undertaking an more...

Edinburgh Gin grows summer festival initiative

Edinburgh Gin has added two extra outdoor sites for festival-goers in the city more...