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- Diageo forms a strategic joint venture (JV) with Main Street Advisors bringing together two great brand builders to grow Cîroc Ultra-Premium Vodka in North America, and Lobos 1707 Tequila worldwide.
- Diageo exchanges majority ownership of Cîroc Ultra-Premium Vodka's brand rights in North America for majority ownership interest in Lobos 1707 to maximize the value of Cîroc Ultra-Premium Vodka's brand rights in North America and Lobos 1707 brand rights worldwide.
- The strategic JV combines Diageo's scale, operational excellence, consumer insights, and long history of building some of the world's most iconic spirits brands, with Main Street Advisors' deep expertise in culture through the media, music, entertainment, and professional sports worlds.
- Nick Tran, award winning marketer, appointed as President and Chief Marketing Officer for the JV.
New York - Diageo, a global leader in beverage alcohol, and Main Street Advisors, a leading investment and advisory firm, today announced a strategic joint venture (JV) for Cîroc Ultra-Premium Vodka and Lobos 1707 Tequila.
The JV combines Diageo's unmatched route-to-market, supply chain, and marketing sophistication, with Main Street Advisors' proven track record of investing in, incubating, and accelerating culturally disruptive consumer businesses. The JV will oversee the Cîroc brand in North America and the Lobos 1707 brand worldwide.
The JV builds upon the existing strength of two premium brands with strong trademarks and artisan roots. Cîroc Vodka is distilled from fine French grapes, deriving its inspiration from more than a century of winemaking expertise. Blending heritage with innovation, Lobos 1707 ages its agave spirits in American oak barrels and finishes in Pedro Ximénez (PX) Sherry wine barrels.
Nick Tran has been appointed as President and Chief Marketing Officer (CMO) for the JV. As the former Global Head of Marketing at TikTok, and an angel investor in consumer disruptor brands, Nick has a reputation for transforming brands into cultural icons and developing consumer and digital strategies focused on Gen Z audiences. Within the JV, Cîroc vodka and Lobos 1707 tequila will each maintain their distinct identities and consumer appeal and leaders, including Diego Osorio, Founder and Chief Creative Officer of Lobos 1707 while tapping into the broader strategic resources of the JV.
Sally Grimes, Chief Executive Officer, Diageo North America, said: "We're thrilled to bring together two great brand builders, Diageo and Main Street Advisors, to shape culture in new and meaningful ways. The Main Street Advisors track record speaks for itself and together, we will establish a strong platform to unleash the full potential of the Cîroc brand for new generations and to drive the next phase of growth for Lobos 1707."
Paul Wachter, founder and Chief Executive Officer of Main Street Advisors, said: "Cîroc and Lobos 1707 have incredible potential, and through this collaboration, we are unlocking new opportunities to accelerate their reach, resonance, and revenue growth in ways that traditional models cannot achieve."
"The way modern consumers engage with spirits continues to evolve. That requires brands to evolve at the same pace," said Nick Tran, the incoming President and Chief Marketing Officer for the JV. "Today, social experiences are more intentional, digital spaces drive discovery, and transparency matters more than ever. To grow brands, we must reimagine storytelling, rethink engagement, and create experiences that are much bigger than just the liquid."
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Notes to editors:
- This JV is consistent with Diageo's Growth Ambition Strategy to deliver long-term sustainable growth and to capture the opportunity in North America, our renewed focus on agility, and strengthening the business for the long-term.
- North America is Diageo's largest region, close to 40% of net sales and just under 50% of operating profit.
- Vodka category household penetration in North America is 44% (Numerator November 2024)
- Tequila and mezcal household penetration in North America is 34% (Numerator November 2024).
- Cîroc in North America will no longer be consolidated in Diageo's North America financial results and will be classed as income from JV and associates going forward. The accounting treatment for Cîroc in all other markets remains unchanged.
About Diageo
Diageo is a global leader in beverage alcohol with an outstanding collection of brands, including Johnnie Walker, Crown Royal, J&B, Buchanan's, Smirnoff, Cîroc, Captain Morgan, Baileys, Don Julio, Tanqueray and Guinness. Diageo is listed on both the London Stock Exchange (DGE) and the New York Stock Exchange (DEO)and our products are sold in nearly 180 countries around the world. For more information about Diageo, our people, our brands, and performance, visit us at www.diageo.com. Visit Diageo's global responsible drinking resource, www.DRINKiQ.com, for more information, initiatives, and ways to share best practices
About Main Street Advisors
Main Street Advisors, Inc. (MSA), based in Santa Monica, CA, is an investment and advisory firm serving a select group of artists, athletes, entertainers and entrepreneurs from the media, music, entertainment, and professional sports worlds. Current and prior MSA investments and startups include 88Rising, Alpine F1 Team, ATTN:, Complex, Dave's Hot Chicken, Fenway Sports Group, Gin & Juice by Dre and Snoop, On Running, San Vicente Bungalows, Truff, and The SpringHill Company. In addition to its investment activities, MSA advises its clients and portfolio companies on their most critical objectives and transactions, which over time have included such landmark transactions as Fenway Sports Group's acquisition of the Boston Red Sox and Liverpool Football Club, the sale of Beats to Apple, LeBron James' lifetime partnership with Nike, and the acquisition of Klutch Sports Group by United Talent Agency. For more information, visit www.mainstreetadvisors.com
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Diageo plc published this content on April 07, 2025, and is solely responsible for the information contained herein. Distributed via , unedited and unaltered, on April 07, 2025 at 14:48 UTC.
