Thursday, May 10, 2007
SAMMY HAGAR'S CABO WABO TEQUILA ACQUIRED:
Press Article / San Francisco, CA (May 7, 2007) Skyy Spirits announced today that they will join professional rock and roller and tequila connoisseur Sammy Hagar in expanding his world class tequila line of Cabo Wabo Reposado, Anejo, Blanco, and new ultra luxury Cabo Uno when Gruppo Campari's controlling interest in Cabo Wabo becomes effective in January of 2008.
"Sammy Hagar and Skyy Spirits share the same passion for quality, luxury and style," said Gerry Ruvo, President and CEO, Skyy Spirits. "Cabo Wabo is known among tequila connoisseurs as the ultimate in taste. We look forward to working closely with Sammy and his team to introduce the brand to a global audience."
Sammy Hagar will retain 20 percent ownership of Cabo Wabo and will continue to be intimately involved in the brand's quality guidelines and in the marketing designed to expand brand awareness and sales in the US and the rest of the world.
"When I created Cabo Wabo, I never dreamed that it would be received so well by my fans and people who really love good tequila," said Sammy Hagar. "While I am proud of its success, it's time to let the world have a shot at the best tequila on the planet and Campari can help take us there."
Cabo Wabo is an award-winning luxury line and one of the fastest growing spirits brands making this a strategic acquisition to Skyy Spirits portfolio with high growth potential. Skyy Spirits continually assesses opportunities in the marketplace to build its diverse portfolio of proprietary luxury and super premium brands. The tequila category is a very important category for the Skyy Spirits portfolio long term.
Sammy Hagar became famous as a solo performer and songwriter and later as the lead singer and a songwriter for Van Halen in the 1980's and early 1990's. Hagar's love for hand-crafted tequilas led to the development of Cabo Wabo 100% blue agave tequilas. His motto for life is "Fun, purity & quality lead to a lifestyle we all yearn for."The addition will add to Skyy Spirits' super premium and luxury portfolio with a strong potential for growth. This addition proves that Skyy Spirits can attract great brands to its portfolio, enhancing its line for retail partners and Gruppo Campari.
Sammy sold 80 percent of his business for a reported 80 million dollars!!! Let's toast to that!
posted by Paul Dickinson at 9:21 AM | Email Us