August 29, 2006
Jack Daniels Buys Herradura
In a move that has left many Mexicans saddened, Brown-Foreman Corporation, makers of Jack Daniels whiskey, has bought the Herradura company. Herradura is a top-shelf smooth tequila, and is the best for shots and margaritas, if you can afford it.
From Reuters here:
MEXICO CITY (Reuters) – Mexico’s national pride, bruised time and again by a steady invasion of U.S. investors and culture, took another blow Monday when one of its finest tequila makers was swallowed up by an American company.
The $876 million buyout of Casa Herradura by Brown-Forman Corp. left a bitter taste with some regulars at cantinas in Mexico City.
Casa Herradura is 136 years old, family owned and makes El Jimador and Herradura, ranked 3rd and 10th among the world’s top tequila brands.
Made from distilled agave cactus plants, tequila is Mexico’s national drink. But in recent years, a shortage of plants has sent prices soaring.
One shot of Herradura sells at 60 pesos ($5.50) at the Ardalio cantina, almost double the price of all rums, less than all vodkas and at the same price as whiskies, including Brown-Forman’s Jack Daniel’s brand.