Proximo Spirits agreed to a deal worth $600 million to purchase a majority stake in Proper No. Twelve Irish Whiskey, which is co-owned by UFC star Conor McGregor, according to Shanken News Daily's Shane English.
The report stated Proximo has steadily increased its share of the company, reaching 49 percent last spring. Proximo CEO Mike Keyes said he isn't looking to make any major changes with Proper No. Twelve:
"Since introducing this brand with Conor and his partners just two and a half years ago, Proper No. Twelve has been the most exciting brand in the Irish whiskey category. The brand continues to grow at an unprecedented rate, and this agreement reflects Proximo's commitment to expanding its presence in the whiskey category as a whole."
It's unclear how much McGregor will directly profit from the sale. The 32-year-old will continue to have a role, and fellow co-founder Ken Austin told English that McGregor is "very, very fixated on this being a multimillion-case brand."
The former featherweight and lightweight champion is set to fight Dustin Poirier at UFC 264 on July 10, which will present Proper No. Twelve with another opportunity to get its name front and center.
Courtesy of Bleacherreport
Text: Joseph Zucker