The high-profile dispute between Diageo and Sean ‘Diddy’ Combs has been settled, with the former taking ownership of the jointly-held DeLeón tequila brand.
The development, announced earlier this week, follows the breakdown of the partnership in June after 16 years. The brand owner and the entertainer & entrepreneur teamed up back in 2007 through a brand management arrangement for vodka brand Cîroc before jointly acquiring DeLeón six years later.
A disagreement about the level of marketing attention from Diageo to DeLeón escalated to a court filing in which Combs Wines & Spirits alleged that Combs’ race had been taken into consideration, a claim that Diageo denied.
In a brief statement, the group said that “all disputes” have been resolved. “Mr Combs has withdrawn all of his allegations about Diageo and will voluntarily dismiss his lawsuits against Diageo with prejudice. Diageo and Mr Combs have no ongoing business relationship, either with respect to Cîroc vodka or DeLeón tequila, which Diageo now solely owns.”
Additional details, including whether any payment changed hands, were not provided.
DeLeón now sits alongside the Casamigos and Don Julio brands in Diageo’s tequila portfolio. The company, which in November warned of a marked slowdown in its sales for the six months to the end of December, will report its half-year results on 30 January.
