Tequila group to take control of McGregor’s whiskey firm
TEQUILA could be the order of the day for former UFC champion Conor McGregor.
The owner of Jose Cuervo Tequila, Becle SAB de CV, has reportedly taken up an option to acquire a majority stake in Eire Born Spirits, which owns and promotes McGregor’s Proper No Twelve Irish Whiskey.
Last week, Becle published a note in its results stating it had increased its equity participation in Eire Born Spirits.
“On February 23, 2021, the company provided notice of the exercise of its call option to acquire 51pc of the equity interests of EBS [Eire Born Spirits],” read the note.
Given Becle already held 49pc of EBS, it isn’t clear if it has upped its stake to 51pc or if it has acquired the remainder of the business it didn’t already own.
A Becle spokesman is reported to have confirmed to industry publication WhiskyCast
that the option covers the remaining equity in EBS, with the deal expected to close in the second quarter of 2021.
Becle and Proper No Twelve failed to respond to questions from Ergo.
Last August, Eire Born Spirits had a valuation of around €200m based on Becle bolstering its position in the company from 20pc to 49pc.
Proper No Twelve launched in September 2018, initially in Ireland and the US. The brand, which is also available in the UK and Australia, sold out a six-month allocation in its first 10 days.
Ergo has learned it also recently secured a listing with UK supermarket Morrisons.