Over the years, Jeezy has grown from rap star to all-around businessman, as he’s strengthened his business portfolio by connecting with brands like Tequila Avion, Defiance Fuel, as well as other business endeavors. For his latest business move, Jeezy and his Tequila Avion partner, Ken Austin, have sold the remaining stake in their tequila brand to global spirits company Pernod Ricard.
“When I first became involved with Tequila Avión in 2013, I knew it had enormous potential on a global scale,” Jeezy says in a statement. “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.”
Despite selling his stake, Jeezy will remain involved and finally incentivized up until 2020, and will continue to support the brand.
Jeezy joined forces with Tequila Avion in 2013 when he was named Multicultural Advisor of the brand. Since joining the brand in 2013, Jeezy has announced plans to launch a mentorship program with Tequila Avion.
“Avión has become a leading aspirational lifestyle brand in the fast-growing ultra-premium tequila category. This acquisition is important for Pernod Ricard USA as we focus on premiumization and building brands that consumers are passionate about,” Paul Duffy, Chief Executive Officer of Pernod Ricard USA, says. “We look forward to continuing to develop and grow this exciting brand.”
Ken Austin, founder and chairman of Tequila Avion, is optimistic about the acquisition and added, “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. The Pernod Ricard people, distributors and brokers have been and will continue to be key drivers in taking Avión to the next level.”
After dropping off his album Pressure at the end of 2017, Jeezy is gearing up to hit the road for his Cold Summer tour with Tee Grizzley. The tour kicks off on Feb. 7 in Anaheim, CA.