Vodka maker Tito’s announced Tuesday that it has acquired a majority stake in tequila brand LALO.
The deal marks the first strategic acquisition in the Texas company’s history.
Tito’s officials said that the move would provide strategic sales support and expanded distribution capabilities to the blanco tequila producer, which they called one of the country’s “fastest-growing tequila brands.”
Eduardo "Lalo" González, the company’s co-founder, will continue to lead the business.
"My late father is the namesake of this brand, and I know he would be proud to see how far we've come," González said in the announcement. "This moment is a natural continuation of our journey, and we're excited to introduce LALO to more people across the world while preserving every element that makes us special."
"I've known the LALO founders for a long time,” added Tito’s founder Tito Beveridge. “They care about the juice. They keep it simple. They do things the right way, not the flashy way. That felt like home to us."
The deal is expected to close in “the near future,” pending regulatory approval and other conditions. Additional terms were not disclosed.
