KIV Spirits has acquired Texas-based Ambhar Global Spirits, which owns the namesake Tequila brand.
The “multi-million dollar” transaction, announced earlier this month, was for an undisclosed sum and will see a new owner for the five-strong portfolio. KIV, which is based in New York, said it intends to “inject the required capital into Ambhar Tequila to help expand distribution for its current markets such as the US, UK, Canada, Mexico and New Zealand as well as open additional new markets in Europe and Asia”.
“As Tequila is growing in the spirits category, Ambhar is well positioned in the top consumption markets and we are looking forward to expanding it to additional upcoming markets,” said KIV CEO Iqleen Virdi.
“I’m … looking forward to an amazing journey ahead with our ‘dragonfly’ Tequila.”
Ambhar, which was founded almost ten years ago by former Merrill Lynch Mexico CFO Jaime Celorio, is positioned as an “ultra-premium sipping” Tequila and comprises Plata, Reposado, Añejo, Cristalino and Extra Añejo expressions.
Earlier this week, Diageo kicked off a worldwide marketing activation for its Don Julio Tequila brand.
Why Tequila is dominating spirits growth in US on-premise – Market Intel
