Conor McGregor sells majority of Proper No. Twelve for $600 million
April 27, 2021
No. 6 ranked UFC lightweight and former simultaneous UFC featherweight and lightweight champion Conor McGregor is a rich man, but the “Notorious” one just got a whole lot richer.
On Tuesday, Shanken News Daily reported that Proximo Spirits acquired a majority stake in Proper No. Twelve Irish Whiskey in a deal that is valued at up to $600 million.
The profiteers of this massive deal include brand co-founders McGregor, Ken Austin and McGregor’s agent and business partner Audie Attar.
Proximo Spirits, a company that owns tequila brand Jose Cuervo among several other alcoholic brands, had already been in business with Proper No. Twelve for the past two years.
McGregor to retain minority interest in Proper No Twelve brand
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Cuervo owner buys Proper No. Twelve whiskey 28th April, 2021 by Nicola Carruthers
Professional fighter Conor McGregor will continue to promote Proper No. Twelve Irish whiskey after the brand was sold to Jose Cuervo owner Becle in a deal worth up to US$600 million.
Conor McGregor will ‘remain actively engaged in the promotion’ of Proper No. Twelve whiskey
Becle confirmed it had purchased the remaining 51% stake in Eire Born Spirits (EBS), the company behind Proper No Twelve, during the publication of its first quarter results. The move came after the company borrowed US$150m to pay for the remaining stake in EBS.
Tequila could be the order of the day for former UFC champion Conor McGregor.
The owner of Jose Cuervo Tequila, Becle SAB de CV, has reportedly taken up an option to acquire a majority stake in Eire Born Spirits, which owns and promotes McGregor’s Proper No Twelve Irish Whiskey.
Last week, Becle published a note in its results stating it had increased its equity participation in Eire Born Spirits.
“On February 23, 2021, the company provided notice of the exercise of its call option to acquire 51pc of the equity interests of EBS [Eire Born Spirits],” read the note.
Given Becle already held 49pc of EBS, it isn’t clear if it has upped its stake to 51pc or if it has acquired the remainder of the business it didn’t already own.
Thereâs no limit to an empire state of mind, or the ways in which Jay-Z can make money. Yesterday, news of Parisian luxury house LVMH taking 50% stake in the hip hop baronâs flashy brand of bubbly, Armand de Brignac, fanned out over the Internet. This is significant: For LVMH, whose recent experiments such as with Rihanna s Fenty have been tricky, it signifies a desire to continue to embrace contemporary luxury and diversity in clientele. For Mr Carter, whose songs have referenced everyone from Gucci to Maybach, Versace to Cristal (another legendary champagne house with whom he had an infamous and very public fallout), itâs a chance to grow one of the youngest and buzziest sparkling wine brands in the world.
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