date:Dec 13, 2012
Diageo has decided not to purchase the Jose Cuervo tequila brand after failing to agree on a deal with Mexican owners Beckmann family.
The decision resulted in ending a 26-year relationship between the two companies, where Diageo served as sole distributor for Jose Cuervo brand outside Mexico. The distribution deal is set to expire in June 2013.
According to Diageo, Jose Cuervo generated 300m of net sales in 2011 that accounts to about 3% of its revenue and 2% of profit. Its major markets are