Spirits firm Azteca and Beneficial Holdings (BFHJ) have agreed an “alliance” as part of a bid to boost the positioning of the Tepoz Tequila range in the premium Tequila sector of the US.

Azteca has agreed to sell a majority stake in itself, to hotel and casino investment firm BFHJ, it announced on Wednesday (30 May). 

BFHJ will issue 100m shares of its common stock to the owners of Azteca in a transaction valued at US$3m. BFHJ will pay for a redesign of Tepoz's bottle and packaging.

Nadia Serrano, a BFHJ spokesperson, said: “An alliance between Azteca and Beneficial will be advantageous to both companies. BFHJ's backing and wherewithal will further advance the goal of Tepoz being positioned as a premium brand with a loyal market of upscale patrons in the US."

Charles Herman, an Azteca spokesperson added: “Azteca is interested in the benefit of what will be access to the customers and outlets of BFHJ's gaming and casino investments."