Seagram buys premium tequila brand

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MEXICO CITY--Canada's Seagram & Sons is acquiring a controlling interest in Tequila Don Julio, a Mexican producer of super-premium tequila, according to local newspaper reports. Financial terms were not disclosed but the Gonzalez family, which founded the Don Julio company 50 years ago, is said to be maintaining a stake in the operation. In addition to the Don Julio, which is one of the most expensive and highly regarded tequilas available in Mexico, the company produces more accessibly-priced tequilas under the "Tres Magueyes" brand. Seagram plans to market the brands in Mexico, the U.S. and other international markets.

Copyright May 1999, Crain Communications Inc.

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