Outside Source
Conor McGregor has added another nine figures to his growing bank account.
The Irish superstar along with his partner and manager Audie Attar and spirits entrepreneur Ken Austin have sold a majority stake in Proper No. Twelve Irish Whiskey to Proximo Spirits in a deal worth up to $600 million.
Terms of the deal were announced on Tuesday following an initial report from Shanken News Daily.
As part of the deal, McGregor will retain an interest in Proper No. Twelve and remain a brand ambassador for the whiskey moving forward.
“I founded Proper No. Twelve less than three years ago and today it has become a shining star in the spirits industry,” McGregor said in a statement. “This agreement is exciting for my partners and me, and the potential is limitless!
“Our vision is for Proper No. Twelve to continue its incredible growth worldwide and to keep bringing new consumers to the now-reinvigorated Irish whiskey market.”
Proximo Spirits, the same company that produces Jose Cuervo tequila and Kraken rum, already owned 49 percent of the company, and this latest sale will put Proper No. Twelve under their complete control.
All parties involved with the deal, including Attar and Austin, will also remain with the company after the purchase.
McGregor first launched Proper No. Twelve in 2018, and demand for the Irish whiskey immediately produced sellouts at liquor stores across the United States. Since that time, McGregor and his partners have shipped over six million bottles of Proper No. Twelve worldwide.
With this sale, McGregor becomes the latest celebrity to cash in on a branded liquor company after actors like George Clooney and Ryan Reynolds made similar moves in recent years and then cashed out with huge sums being paid to obtain control over the brand.
Moving forward, McGregor will still be just as active with Proper No. Twelve while also remaining the face of the brand in all advertising and commercials.
This article first appeared at MMA Fighting – All Posts
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