Monarq Group is launching Atlantico rum in its Latin America and Caribbean markets after signing a deal with the brand's owner, Alebrand Spirits Co. 

Monarq will manage, distribute and market Atlantico rum in the region and has also gained rights to distribute the brand in US travel retail, it said this week. The deal took effect on 1 February and represents Atlantico's launch in Latin America and Caribbean territories.

Latin music star Enrique Iglesias is a partner in the brand, although his exact ownership status is unclear. Monarq's MD and owner, Robert de Monchy, said: "The great popularity of Enrique Iglesias, the world’s best known Latin artist, obviously is a huge advantage."

He added of the deal: "Our portfolio of premium alcoholic beverages did not yet include a rum brand and we have been waiting patiently for the exact right proposition to come along." Atlantico rum's co-founder, Aleco Azqueta, said: "Monarq and ourselves share the same vision on how to build ultra premium brands."

Monarq already manages well-known brands in some Caribbean and Latin America markets, such as Heineken, Taittinger Champagne and Tia Maria liqueur.