Conor McGregor Sells Majority Stake In Proper No. Twelve Whiskey For $600 Million
Conor McGregor is no longer the majority owner of Proper No. Twelve Irish Whiskey.
McGregor launched Proper No. Twelve back in September 2018. The “Notorious” one is credited with assisting in a big surge in Irish whiskey sales. Proper No. Twelve grew at such a rate that Proximo was looking to take over the company. Mission accomplished.
Shaken News Daily reports that Proximo has purchased a majority stake from McGregor, Audie Attar, and Ken Austin for up to $600 million. Austin had the following to say about doing business with Proximo.
“When we started this business with Proximo, we basically laid out, I’ll call it certain hurdles, that would allow them to buy pieces of the company over time. We hit a milestone and it gave Proximo the opportunity to own a significant stake.” Last spring, Proximo had raised its stake from 20% to 49%. Now it takes majority control of the brand, which is produced at its Old Bushmills Distillery in Northern Ireland.”
Proximo CEO Mike Keyes will continue to work with McGregor when it comes to the marketing aspect of Proper No. Twelve. He says the new deal ensures that the brand will continue to grow.
“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.”