Jose Cuervo parent company buys Pendleton whiskey for $205M
PENDLETON, Ore. (AP) — The Pendleton Round-Up’s branded whisky has been sold to a Mexican liquor conglomerate for $205 million.
The East Oregonian reports that the parent company of the Jose Cuervo line of tequilas announced the purchase of the Pendleton Whisky brand from Hood River Distillers on Thursday.
Hood River Distillers will continue to bottle the whiskey.
Round-Up Publicity Director Randy Thomas said the sale was a success story.
Pendleton Whisky launched in 2003 and sells the equivalent of 3 million liters per year.
The Round-UP rodeo made $1.7 million in revenue from Pendleton Whisky royalties in 2016.
The companies expect the deal to close during the first quarter of 2018, subject to regulatory approval and closing conditions.
Information from: East Oregonian, http://www.eastoregonian.com