Tito's Handmade Vodka makes its first acquisition

(Austin Business Journal) -- Austin-based Tito’s Handmade Vodka will buy another local alcohol maker, Lalo Tequila.

Tito’s announced Sept. 23 that it entered a definitive agreement to acquire a majority stake in Lalo Tequila, marking its first-ever acquisition. The acquisition cost was not disclosed, and it is subject to regulatory approvals.

Lalo Tequila was co-founded by Eduardo “Lalo” Gonzalez, David "R" Carballido and Jim McDermott. Gonzalez is the grandson of Don Julio Gonzàlez Estrada — of Don Julio Tequila.

Read the full article on Austin Business Journal.