Jose Cuervo silent on IPO report
Jose Cuervo is reportedly talking to banks about an IPO
Jose Cuervo has declined to comment on reports it is considering an IPO in Mexico.
Bloomberg reported yesterday that the Tequila producer and Bushmills Irish whiskey owner is talking to banks about an initial public offering. The company may sell shares later this year or early next year, Bloomberg said citing people with knowledge of the situation.
The share sale could total US$750m, the report said.
A spokesperson for Jose Cuervo told just-drinks today the company has no news to share at this time.
Jose Cuervo, which is owned by the Beckmann family, is reportedly doubling capacity at its Bushmills distillery in Northern Ireland in a GBP30m (US$42m) expansion plan. The company bought Bushmills from Diageo in February last year.
Last year, the master blender of Jose Cuervo said the mixto segment of the Tequila category is on the cusp of "a golden age".
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