text: Eastside Distilling acquires Azuñia Tequila for $14.7m - FoodBev Media
  US spirits company Eastside Distilling has acquired Azuñia Tequila from Intersect Beverage, in a deal worth approximately $14.7m to expand its range of products and operational assets.
  Azuñia Tequila produces handcrafted tequila using 100% blue weber agave grown in Mexico and an open-air fermentation process. The company offers four tequila products: Blanco Organic Tequila, Reposado Organic Tequila, Añejo Tequila, and Azuñia Black Tequila, all primarily sold throughout the western and southeastern US.
  By purchasing Azuñia Tequila, Eastside will now hold a second national anchor brand, alongside its Redneck Riviera Whiskey portfolio. The deal will also provide Eastside with over 2,600 on-premise points of distribution and a direct sales team.
  Under the terms of the agreement, Eastside will purchase Azuñia in an all-stock transaction provided that Eastside pays a portion of the consideration in cash or a three-year promissory note. Eastside has also agreed to issue additional consideration up to $1.5m reliant on the Azuñia business generating revenue of at least $9.45m in the next year.
  Azuñia Tequila was previously owned by Intersect Beverage, in which Stephanie and Pat Kilkenny were majority stakeholders. As part of the deal, Stephanie Kilkenny is expected to join Eastside's board of directors, subject to their approval.
  "Further, the cultural fit aligns perfectly with that of the Azuñia team which takes tremendous pride and passion in the products that we produce for our customers."