Diageo buys Pierde Almas mezcal

Diageo has acquired the super-premium mezcal brand Pierde Almas in its quest to develop the mezcal category in Mexico and around the world.

Pierde Almas is produced in Oaxaca, Mexico from 100% naturally fermented agave. The brand is known for having a strong focus on social, cultural and environment awareness.

Pierde Almas will be the second mezcal brand to enter the Diageo portfolio, after the company’s launch of a mezcal under its recently acquired Casamigos Tequila brand. Terms of the deal have not been disclosed.

The spirits giant acquired Casamigos from George Clooney and Rande Gerber last year, in a deal worth up to US$1 billion.

Mezcal is one of the fastest growing categories in the US. Between 2010 and 2015, Tequila and mezcal grew 30% by volume in the market,more than any other alcohol category except Cognac and faster than the global average of 22%.