Atlanta rapper Jeezy just scored a fortune, after the remaining stake in the tequila brand he invested in was purchased today (January 17). Avión was acquired by the multi-billion dollar global spirits brand Pernod Ricard according to reps for the company.
Representatives for Avión said Founder Ken Austin, President Jenna Fagnan, and Jeezy will remain highly involved and incentivized through an earn-out mechanism until at least 2020, to help fuel the brand’s next wave of growth.
“When I first became involved with Tequila Avión in 2013, I knew it had enormous potential on a global scale,” Jeezy told AllHipHop.com. “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.”
Jeezy joined the Avión brand of tequila in 2013 as a Multicultural Advisor. He has since become an integral part of marketing the Avión brand to his millions of fans. In addition to his music career, Jeezy’s investment portfolio includes Avion, his fitness water Defiance Fuel, and the rapper’s partnership in the Atlanta location of American Cut Steakhouse.
Avión also owns brands and wines like Absolut Vodka, Chivas Regal Scotch Whisky, Glenlivet, Jameson, Martell, Beefeater, Seagram’s Extra Dry Gin and dozens of other well-known brands.