In July 2014, Pernod Ricard took a majority interest in Tequila Avión. Pernod Ricard just announced they have completed the acquisition of the remaining stake in Avión Spirits LLC, owner of the ultra-premium tequila brand, from its joint-venture partner Tequila Avión.
The tequila brand Founder Ken Austin and President Jenna Fagnan, along with Grammy Award winner Jeezy, will remain highly involved and financially incentivized at least until 2020 to help fuel its next wave of growth. Terms of the deal were not disclosed but, reports from 2014 estimate Pernod Ricard paid about $100 million for the original investment in the tequila brand.
Tequila Avión® is an ultra-premium tequila founded by Ken Austin and produced with third generation agave growers from single source rare Blue Weber agave from Jesus Maria in the highest region of Jalisco, Mexico.
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“This clearly displays Pernod Ricard’s commitment to this high-potential brand which was voted World’s Best Tasting Tequila at the San Francisco World Spirits Competition,” said Ken Austin, Founder and Chairman of Tequila Avión. “The Pernod Ricard people, distributors and brokers have been and will continue to be key drivers in taking Avión to the next level.”
“Avión has become a leading aspirational lifestyle brand in the fast-growing ultra-premium tequila category. This acquisition is important for Pernod Ricard USA as we focus on premiumization and building brands that consumers are passionate about,” said Paul Duffy, Chief Executive Officer of Pernod Ricard USA. “We look forward to continuing to develop and grow this exciting brand.”
Tequila Avion’s distinct flavors are created slowly in small batches using a meticulous, time intensive distilling process and proprietary ultra-slow filtration Tequila Avión is available in Silver, Reposado, Anejo, Espresso Liqueur and Avión Reserva 44 Extra Anejo. Avión was named Best Tasting Unaged White Spirit and Best Tasting Tequila in the World at the San Francisco World Spirits Competition.