Guinness brewer Diageo has completed the acquisition of full global ownership and control of Tequila Don Julio.
The acquisition strengthens Diageo's position in the growing 'super premium and above' tequila market and gives the brewer the ability to make investment decisions across supply, marketing, and innovation to support the continued growth of the brand.
Diageo is also now set to "become more competitive" in the tequila market.
Ivan Menezes, chief executive of Diageo, said completing the acquisition delivers on the company's strategy to build its presence "in the world's fastest growing markets and to invest behind the biggest growth opportunities".
"Tequila is an important global category with tremendous growth potential and with the purchase of Tequila Don Julio we now have full ownership of a leading ultra-premium brand," he added.
Erik Seiersen, managing director of Diageo Mexico, added: "This transaction marks a significant milestone for Diageo in Mexico.
"It transforms our business as a leading local employer, producer, and exporter of one of Mexico's most important products and reinforces our leading position within premium spirits with the return of Smirnoff and the addition of Tequila Don Julio in its entirety to our portfolio."
