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Has Conor McGregor sold Proper No. Twelve Irish Whiskey to a Mexican tequila company?

Conor McGregor serves UFC president Dana White a glass of his whiskey Proper No. Twelve
Conor McGregor serves UFC president Dana White a glass of his whiskey Proper No. Twelve
SENIOR ANALYST
Modified 03 Mar 2021
News

It is unclear what Conor McGregor's role will be over 'Proper No. Twelve' whiskey after Mexican beverage company group Becle's takeover of Eire Born Spirits (EBS).

EBS was founded in 2018 by Conor McGregor, his manager Audie Attar, and spirits industry entrepreneur Ken Austin. Proper No. Twelve whiskey is the company's flagship, hitting a €200 million valuation within two years of its creation.

According to Whisky Cast, Becle held a 20 percent stake over EBS at the time of its creation. McGregor's whiskey is produced at the Old Bushmills distillery in Northern Ireland, allegedly the first distillery globally, which Becle acquired in 2014.

The Mexican beverage conglomerate, better known for its Jose Cuervo whiskey, also controlled distribution rights for Proper No. Twelve in the United States via its American subsidiary, Proximo Spirits.

According to Wine & Spirits Daily, Becle executed an option to extend its ownership stake at EBS to 49 percent in 2020. Now, the company exercised another call option of 51 percent following their latest news release.

"On February 23, 2021, the Company provided notice of the exercise of its call option to acquire 51 percent of the equity interests of EBS."

A Becle spokesman confirmed via email to Whisky Cast that the acquisition, assumed to be over in the second quarter of 2021, covers the remaining 51 percent equity in EBS. This means that the Mexican whiskey traders have absolute control over Conor McGregor's whiskey brand.

The news release also cited that Becle had a 20 percent increase in its sales in 2020 compared to the previous year. In a conference call following the release, Proximo Spirits CEO Mike Keyes stated that "Proper No. Twelve is the fastest growing brand in the Irish whiskey category."

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It is uncertain what position Conor McGregor is expected to take over the Proper No. Twelve brand after the acquisition by Becle. The same spokesman stated only that "we expect to announce further details upon the closing of the transaction."

Conor McGregor's new pub in Dublin

Floyd Mayweather Jr. v Conor McGregor
Floyd Mayweather Jr. v Conor McGregor

UFC superstar Conor McGregor recently purchased a pub in Crumlin, his childhood neighborhood in Dublin, Ireland. Crumlin's postal code is D12, which is referenced in the Irishman's whiskey brand Proper No. Twelve.

McGregor reportedly spent €1.9 million in property rights and refurbishing the old pub into a fancy, modern gastropub. "The Black Forge" is expected to be inaugurated as soon as COVID-19 restrictions are lifted in Ireland.

Published 03 Mar 2021, 05:06 IST
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