Listen to Diddy on iHeartRadio

Sean "Diddy" Combs is expanding his footprint in the high-end liquor industry.  The emcee has announced a joint venture with the beverage company Diageo to purchase the tequila brand DeLeon. 

Diageo is the parent company of Diddy's Ciroc vodka.  The new partnership will give both Diddy and Diageo equal ownership of the high-end tequila. 

In a press release, Diddy calls the venture a "natural extension" of his business portfolio.  He also calls DeLeon an "outstanding brand," adding that he and Diageo will take DeLeon "to new heights."  

In 2007, Diddy partnered with Diageo to help develop Ciroc vodka.  With Diddy's influence the brand has grown from selling a mere 50-thousand cases per year to nearly two-million cases per year.