John Paul Dejoria, best known for co-founding the Patrón tequila brand, has made a move in gin, acquiring the Waterloo business in Texas.
The transaction, for an undisclosed sum, sees Waterloo Gin move across from Treaty Oak Distilling, 15 years after the brand came into being. The brand, which is on sale in its home state as well as in Florida, will undergo a “comprehensive refresh” of its imagery and packaging over the coming months.
Dejoria set up Patrón with Martin Crowley in 1989. Following Crowley’s death in 2003, the tequila heavyweight was sold outright to Bacardi, which had held a minority stake since 2008, in early 2018. The sale valued Patrón at US$5.1bn.
Founded by Daniel Barnes, who stood down as CEO of Treaty Oak after 19 years in July, Waterloo will be headed up by Justin Meigs, who worked for Patrón prior to Bacardi’s purchase. Meigs has been CEO of the company since July according to his LinkedIn profile, and previously worked on Empress 1908 Gin in Las Vegas for five years until 2022.
Waterloo’s flagship No. 9 expression carries a price point of US$32.99 while the aged Waterloo Antique iteration is set at $42.99.
In June last year, Dejoria returned to tequila when he “joined the Bandero Tequila team” at Rokit Drinks.
