William Grant & Sons has acquired a distillery in Mexico, which will support the growth of the company’s Milagro Tequila brand.
According to William Grant & Sons, Milagro has averaged double-digit annual growth in the US market since 2015, reaching over 300,000 9L cases in annual sales; making it the country’s fifth-largest premium tequila brand.
The company claims that this acquisition forms part of WG&S’s multi-million-pound investment plan to build its brands globally, stating that this acquisition will help to further capitalise on the brand’s success, while opening up the opportunity for future innovation.
Jonathan Yusen, William Grant & Sons president and managing director, Americas, said: “2020 has seen accelerated consumer interest in the premium tequila category, with Nielsen markets showing retail growth of over 30% over the last quarter alone, and with Milagro out-pacing the category with almost 50% retail growth.
“Milagro has always been an exciting brand within our award-winning portfolio, and with this distillery it is now a clear long-term priority for our global business, alongside such iconic premium brands as Glenfiddich Single Malt Scotch, Hendrick’s Gin and Tullamore D.E.W. Irish Whiskey.
“This acquisition allows us to manage our production more closely, ensuring the long-term quality and consistency of our Silver, Reposado and Añejo offerings, while bringing our innovation expertise to agave-based spirits.”
Simon Hunt, William Grant & Sons chief executive, added: We’re excited by this move to build a strong platform for further innovation that will help us take full advantage of global opportunities in the fast-growing premium tequila category. It demonstrates our commitment to investment in global growth despite the impact of the coronavirus pandemic.”
“The acquisition of the tequila distillery in Mexico and our recent decision to set up our own dedicated distribution business in Germany are two examples of our investment decisions at a difficult time for our people, our trade partners, our loyal brand fans and our industry.”
© FoodBev Media Ltd 2019