P. Diddy - P Diddy buys tequila brand

P. Diddy has jointly bought a tequila company.

The rap mogul has again teamed up with Diageo PLC - with who he has a joint marketing and profit-sharing deal for Ciroc vodka - to acquire luxury alcohol brand DeLeon for an undisclosed sum.

Diddy said: ''With Ciroc, we dated. Now with DeLeon, we're married. This deal is way better. This makes me a true owner.''

Since he partnered with Ciroc in 2007, sales have grown from 50,000 cases a year to almost two million and Diageo are hoping Diddy - whose real name is Sean Combs - can have the same impact on sales of the tequila.

Larry Schwartz, President of Diageo North America said: ''The joint venture with Combs Wine & Spirits and its purchase of DeLeon is Diageo's latest step toward returning to a leading position in tequila in North America.

''Expanding our relationship with Sean Combs into tequila was a natural choice given Sean's ability to galvanise support for luxury brands, as we've seen with our work together on Ciroc. Ultra-premium and above tequila is a very exciting segment - we already have a strong brand there with Don Julio and are pleased to complement that offering with DeLeon.''

DeLeon has five variants which range in price from $120 to $1,000 per bottle and are currently distributed in 18 US states.


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