Tales of the Cocktail to have new owners
Founders Ann and Paul Tuennerman have reportedly entered into an agreement with two local entrepreneurs to sell annual drinks festival Tales of the Cocktail in New Orleans.
Gary Solomon Jr, head of the Solomon Group, and Neal Bodenheimer, co-owner of cocktail bar Cure, have signed a letter of intent to purchase TOTC’s parent company Mojo911 from founder Ann Tuennerman and her husband Paul Tuennerman.
According to Neat Pour, the deal will see the company restructured as a not-for-profit.
Paul Tuennerman previously announced his resignation as TOTC’s chief business officer officer in March last year following a row over a ‘blackface’ video of his wife, Ann. A Facebook Live status posted by Ann showed her with a black painted face during a Mardi Gras parade, accompanied by an offensive caption. Both later apologised for the content.
This was followed by the Tuennermans announcement that they were to step down from the company with immediate effect in September last year.
According to a report from the University of New Orleans Research Department, Tales of the Cocktail 2017 generated a total economic impact of US$18.9 million for the city.
The TOTC festival will return to New Orleans on 17-22 July 2018.