Tito’s Handmade Vodka, Austin, Texas, introduced it has entered right into a definitive settlement to amass the bulk stake in LALO Tequila, one of many fastest-growing tequila manufacturers in america.
Co-founded by Eduardo “Lalo” González, David “R” Carballido and Jim McDermott, LALO honors three generations of tequila-making custom to create a spirit that’s refreshingly fashionable, the corporate says. Utilizing solely three components ― totally mature Highland agave, deep effectively water from Jalisco’s mineral-rich soil, and Champagne yeast chosen for its harmonious taste profile ― LALO has crafted a blanco tequila with a clear, distinctive taste that is shortly successful customers throughout the nation, the corporate says.
“At Tito’s, we’ve at all times stated for those who’re going to do one thing, do it effectively,” stated Tito Beveridge, founding father of Tito’s Handmade Vodka, in an announcement. “I’ve identified the LALO founders for a very long time. They care concerning the juice. They preserve it easy. They do issues the precise approach, not the flashy approach. That felt like house to us.”
The newly shaped relationship with LALO will present the tequila model with strategic gross sales assist and entry to an expanded distribution community to speed up its scale from an area identify to at least one with international attain, the corporate says. González will proceed to steward the model’s manufacturing, carrying on his household’s legacy and the tequila’s integrity for generations to come back.
“My late father is the namesake of this model, and I do know he can be proud to see how far we’ve come,” González acknowledged. “This second is a pure continuation of our journey, and we’re excited to introduce LALO to extra individuals internationally whereas preserving each factor that makes us particular.”
LALO has quickly constructed a loyal following for its clear, unadulterated taste and has emulated the Tito’s ethos of resisting business traits of taking shortcuts. Very similar to Tito’s early days in Austin, the model has grown organically by word-of-mouth, incomes its place on the cabinets and backbars throughout the nation by successful customers over with its distinctive liquid and distinct identification, in line with the corporate.
“Tito has been an in depth pal in Austin for years and has deeply influenced the way in which we method what we do,” McDermott acknowledged. Our two corporations are stronger collectively and we’re excited to proceed this journey with the total assist of an organization that understands what it means to develop with a singular focus.”
Carballido added: “This partnership offers us the possibility to share the great thing about Mexico with the world, inviting extra individuals to expertise our nation whereas staying true to our residing Mexican legacy.”
That is the primary strategic acquisition within the historical past of Tito’s Handmade Vodka and represents a unique kind of spirits partnership, entrenched in mutual respect and structured to permit each corporations to remain centered on what they do finest: making distinctive merchandise.
PJT Companions served as monetary adviser and DLA Piper served as authorized adviser to Tito’s. Perella Weinberg served as monetary adviser and Wilson Sonsini Goodrich & Rosati as authorized adviser to LALO Tequila.
The transaction is topic to customary closing circumstances, together with required regulatory approvals, and is anticipated to shut within the close to future.
