Jeezy has cashed in his ownership stake in Tequila Avion.
Jeezy has been heavily involved in the tequila business for much of this decade, copping a stake in the Avion brand back in 2013. Now, the rapper has decided to cash it out, selling his stake in the company to global spirits brand Pernod Ricard. Although it's a bittersweet moment for both parties, this isn't the end of Jeezy's involvement with the brand - not by a long shot.
As per XXL, the rapper expanded on his decision, saying: "“When I first became involved with Tequila Avión in 2013, I knew it had enormous potential on a global scale. This next step with Pernod Ricard USA and continued partnership with Founder and Chairman, Ken Austin, will allow us to continue to grow the brand on the worldwide stage.” Jeezy will help oversee the next stage in the brand's growth until 2020.
“Avión has become a leading aspirational lifestyle brand in the fast-growing ultra-premium tequila category," says Paul Duffy, Chief Executive Officer of Pernod Ricard USA, the company acquiring the assets. “This clearly displays Pernod Ricard’s commitment to this high-potential brand which was voted World’s Best Tasting Tequila at the San Francisco World Spirits Competition,” Ken Austin, Founder and Chairman of Tequila Avion, added as well. “The Pernod Ricard people, distributors and brokers have been and will continue to be key drivers in taking Avión to the next level.”