Happy Day After Cinco de Mayo! Whether you spent last night knocking back the tequila margaritas or salting rims and serving them up at the bar, there's likely no question that tequila was one of the more vital staples of the day. When it comes to tequila brands, Jose Cuervo is king - with sales reaching 4.5 million cases annually, the tequila brand dominates the market, and rivals have long been licking their chops for a piece of the action. But Jose Cuervo chairman Juan Beckmann Vidal has just announced that he has no intention of selling the brand.
SEE RELATED STORIES FROM WDM CONTENT NETWORK
- France Votes to Legalize Absinthe
- The Harrods Food Court in London
- Name Brand vs. Store Brand
- CLICK HERE TO READ THE LATEST EDITION OF FOOD & DRINK DIGITAL
According to Reuters, Jose Cuervo is currently renegotiating their deal with their global distributor, Diageo PLC. This renegotiation may have sparked rumors of Diageo buying out the Jose Cuervo tequila brand entirely. It wouldn't exactly be unprecedented: UK-based Diageo currently owns some of the biggest names in alcohol including Smirnoff, Johnnie Walker, Tanqueray, and Guinness. To actually own the full rights to Jose Cuervo tequila would be quite the feather in Diageo's cap.
But it's not to be: Jose Cuervo isn't letting go of its family-owned roots any time soon. To the contrary, the tequila brand is looking at further expansion, including the possibility of strengthening the Jose Cuervo presence throughout Asia and the BRIC market. "Many big (spirits) companies don't have tequila and are knocking at our door," Beckmann Vidal told Reuters. "Of course they would like to buy us, but the family is very close knit, very solid and we don't need to sell."