Cuervo Said To Hold Off On IPO Until After Election

Casa Cuervo, which had been planning an initial public offering for this month, has decided to postpone the IPO until after the U.S. presidential election, according to Reuters, which cites sources familiar with the matter.

Cuervo is holding off on the IPO, which had been planned for October, because of market volatility around the November 8 election, reports Reuters. The company didn’t respond to requests for comment from SND.

Cuervo, the 250-year-old Tequila giant owned by the Beckmann family, filed a prospectus for the IPO late last month. The Beckmanns are aiming to float as much as 15% of the company on the Mexican Stock Exchange, looking to raise $1 billion. The company said it plans to put much of the proceeds toward acquisitions, while the Beckmanns have also made clear their long-term intention to transform the town of Tequila into a tourist destination like Kentucky’s Bourbon Trail. —Peter Zwiebach

Tagged : Casa Cuervo, spirits, Tequila

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