News: Diddy Toasts It Up After Ciroc Run: "Jay Got Ace Of Spades, Today I Got DeLeón"

Thursday, Jan 9, 2014 9:40PM

Written by Cyrus Langhorne

Less than 24 hours after Bad Boy Records CEO Diddy and alcoholic beverage company Diageo teamed up for a new joint venture, the animated hip-hop icon has delved into what inspired the huge power move to acquire DeLeón tequila.

According to Puffy, frequent run-ins with the product and seeing it featured in big Hollywood films sparked his interest.

"DeLeón was named the best of the best by the Robb Report. It has been known for tequila drinkers...that are true tequila drinkers as a real tequila, a luxury tequila. The way I got introduced to it is that every place that I would go to, rather it was the Soho House, staying at the Gramercy Hotel or any cool, real immersion type of spot, I would see it. Then I was in the movies one day and I'm watching Iron Man 2 and that's all Iron Man had behind his bar. And, I was like, 'This thing is calling me, man.' I've always had a dream to have a tequila. I love this. And, I always wanted to acquire a company. I've always launched a company. People don't realize...this is a historic day for Sean Combs as a businessman. And, even hip-hop." (Complex)

Diddy also reflected on how his love for celebratory drinks has evolved over the past two decades.

"In the early Bad Boy days we were drinking champagne, you know? We was drinking Moet. We graduated from Moet then we went to Cristal. We had to flip out on them then we had to get our own company, we got Ciroc. Jay [Z] got Ace of Spades, And, today I got DeLeón. We up in here. We went from buying, supporting, to owning, you know? And, it started from the bottom." (Complex)

Reports of Puff's big investment dominated news headlines this week.

The record producer, actor and entrepreneur became the face of Ciroc in 2007 under a joint marketing and profit-sharing deal that has brought a near 40-fold rise in annual sales volumes for the brand's products. "With Ciroc, we dated. Now with DeLeon, we're married," Combs said in an interview. "This deal is way better. This makes me a true owner." Financial terms were not disclosed on Wednesday, but with the purchase of the DeLeon brand, Diageo takes a tiny step towards replacing the sales and profit lost last year when it stopped distributing Jose Cuervo, the world's top-selling tequila. (New York Post)

The high-end liquor reportedly varies in price going up to as much as $1,000 per bottle.

DeLeon has five varieties with suggested retail prices of $120 to $1,000 per bottle. Diageo is a leading distributor of premium alcohol, beer and wine. Its portfolio includes Johnnie Walker, Crown Royal, J?B, Windsor, Buchanan's and Bushmills whiskeys, Smirnoff, Ciroc and Ketel One vodkas, Baileys, Captain Morgan, Tanqueray and Guinness. Its shares were down $1.77, or 1.4%, in morning trading on the New York Stock Exchange. The company also trades on the London Stock Exchange. (Los Angeles Times)

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