Calabasas Beverage Company (CBC), the sales venture formed by 818 Tequila and RTD supplier Sprinter, has landed a round of investment and appointed a new CEO.
The vehicle was launched by the two brands last year to support the brands’ sales and marketing.
Speaking to Just Drinks in July last year, the then CEO of 818, Sprinter and CBC Mike Novy said CBC would be a “commercial front end” representing both businesses.
According a statement from CBC, it has received investment from the Pérez family, which owns Grupo Solave, the group that produces 818 Tequila in Jalisco, Mexico.
Financial terms of the detail were not disclosed. With the deal, Grupo Solave will become a part-owner of 818 Tequila, which will “deepen the partnership” and will “reinforc[e] a shared commitment to excellence in craft and production”.
Grupo Solave has been growing agaves for four generations in Jalisco and are now the largest family-owned agave growers in Mexico, according to CBC.
A statement from Grupo Solave on LinkedIn added: “In 2021, 818 Tequila marked a turning point in our history by becoming Grupo Solave’s first maquila brand. That initial trust transformed into joint growth and a relationship based on commitment and shared vision.
“Today, we are taking another step forward by consolidating a strategic investment in Tequila 818, to build a continued solid and sustainable future with a positive impact on the community and the Tequila industry.”
Alongside the investment, CBC has also made Larry Goodrich, chairman of CBC, the company’s new CEO. He previously served as CEO of 818 Tequila during the brand’s formative years and early expansion.
According to the firm, Goodrich’s return to CBC “brings not only proven leadership but also a deep historical knowledge of the brand.
“This unique perspective will serve as a strong foundation for guiding CBC through its next phase of growth.”
818 Tequila and Sprinter were founded by American media personalities Kendall and Kylie Jenner
US-based 818 Tequila, founded in 2021, entered the UK market in 2023 alongside international plans to expand further into Europe.
The tequila brand then launched in Germany in December last year, and revealed it was working with Berlin-based Jaguar Mezcal Boutique (JMB) in its efforts to expand in the German market.
Named after Jenner’s area code in California, the 818 range features four products: Blanco, Reposado, Añejo and Eight Reserve.
“Calabasas Beverage Company unveils investment, appoints new CEO” was originally created and published by Just Drinks, a GlobalData owned brand.
