New York-based Pernod Ricard USA is announced that it has completed the acquisition of the remaining stake in Avión Spirits LLC, owner of the ultra-premium tequila brand Avión, from its joint-venture partner Tequila Avión, New York. Founder Ken Austin and President Jenna Fagnan, along with Grammy Award winner Jeezy, will remain highly involved and financially incentivized at least until 2020 to help fuel its next wave of growth, the company says.

“Avión has become a leading aspirational lifestyle brand in the fast-growing ultra-premium tequila category. This acquisition is important for Pernod Ricard USA as we focus on premiumization and building brands that consumers are passionate about,” said Paul Duffy, chief executive officer of Pernod Ricard USA, in a statement. “We look forward to continuing to develop and grow this exciting brand.”

Ken Austin, founder and chairman of Tequila Avión, added: “This clearly displays Pernod Ricard’s commitment to this high-potential brand, which was voted World’s Best Tasting Tequila at the San Francisco World Spirits Competition. The Pernod Ricard people, distributors and brokers have been and will continue to be key drivers in taking Avión to the next level.”