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P Diddy in high spirits with tequila deal

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Copy of 2013 ESPY Awards Roaming~2

Jordan Strauss/Invision/AP

Sean "P. Diddy" Combs poses in the audience at the ESPY Awards on July 17, 2013, at Nokia Theatre in Los Angeles. Photo: Jordan Strauss/Invision/AP

London - P. Diddy has jointly bought a tequila company.

The rap mogul has again teamed up with Diageo PLC - with whom 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 (about R1 289) to $1 000 per bottle and are currently distributed in 18 US states. - Bang Showbiz

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