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Dive Overview:
- John Paul DeJoria, the billionaire founder of Patron Tequila, is acquiring Waterloo Gin for an undisclosed amount.
- Waterloo, the first gin brand distilled in Texas, fuses fruits and botanicals in its flagship No. 9 Gin, and also sells Antique Gin, which is aged for two years in white oak barrels for a woody flavor.
- Many wealthy executives, including the Bronfman family and LVMH CEO Bernard Arnault, have found success in the alcohol market by buying existing brands.
Dive Insights:
The Waterloo acquisition will allow the gin brand to grow with the backing of a wealthy industry veteran who has led lesser known brands to success. Stand out.
“Waterloo is an exceptionally high-quality, innovative and world-class spirit and I’m confident people are going to love this gin,” DeJoria said in a statement. “I’m honored to have the opportunity to help grow this great brand and bring Waterloo Gin to more bartenders, retailers and consumers across the country.”
According to a press release, Waterloo’s manufacturing process and liquid will remain the same, but the company plans to refresh the brand and expand its national distribution early next year. Currently, Waterloo is sold at select retailers in Texas and Florida, as well as on its website.
Founded in 2009, Waterloo is led by Justin Meigs, who was previously director of sales at Empress Gin. Elderflower brings to Waterloo a CEO with valuable experience in the spirits industry.
DeJoria founded Patron in 1989. The tequila brand was acquired by alcoholic beverage giant Bacardi for $5.1 billion in 2018. DeJoria also founded hair care brand Paul Mitchell.
Though typically associated with Europe, gin is growing in popularity in the U.S., where consumers are seeking premium, escapist spirits, ahead of popular brands like Bombay Sapphire, Hendrick’s and Brockman’s.
In 2023, premium gin saw faster growth than whiskey, vodka, and rum. According to Nielsen data, Quoted by The Spirits Business.