Diageo trades Ciroc vodka rights for majority stake in Lobos 1707 Tequila

From Yahoo Finance: 2025-04-07 13:30:00

Diageo is trading brand rights for Ciroc vodka for a majority stake in Lobos 1707 Tequila with US investment firm Main Street Advisors. Financial terms were not disclosed. The deal includes Diageo retaining Ciroc rights outside North America. Ciroc’s net sales fell 32% in the last six months.
Lobos 1707 Tequila, founded by Diego Osorio in 2020, includes a range of Tequilas and a mezcal. Its principal market is North America, but it entered the UK market in late 2023. Former TikTok executive Nick Tran will lead the new venture as president and CMO.
Main Street Advisors’ portfolio includes investment in Gin & Juice, a RTD brand by rappers Dr Dre and Snoop Dogg. Diageo and Main Street Advisors aim to accelerate growth for Ciroc and Lobos 1707 through innovative strategies to engage modern consumers. The partnership aims to unlock new opportunities for both brands.

Read more: Diageo swaps Ciroc rights for Lobos 1707 Tequila stake