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Diageo Creates DeLeon Tequila Venture With Rapper Diddy Glamour

Diageo Plc, the world’s biggest distiller, will work with music mogul Sean “Diddy” Combs to sell DeLeon tequila in the U.S., following a 2007 deal with the Grammy Award-winning rapper to promote Ciroc vodka.

The maker of Smirnoff created a joint venture with Combs to buy DeLeon, London-based Diageo said today in a statement, without disclosing the purchase price. Each party will own half of the brand, which makes blue weber agave tequila that retails from a suggested $120 a bottle to more than $1,000. The liquor is distributed in 18 U.S. states and Washington, D.C.