WILLIAM GRANTS BUYS A STAKE IN TEQUILA

William Grant & Sons, the family-owned distiller and one of Scotland's biggest private companies, has expanded into the tequila market with a 30% stake in Mexican brand Milagro. The maker of Glenfiddich, The Balvenie and Hendrick's Grant's has retained an option to buy the brand out-right if it achieves its growth targets under the terms of the deal, according to The Scotsman. William Grant already handles the Milagro brand in the U.S. and plans to launch it in the U.K.