Dwayne Johnson launched Teremana Tequila in 2020; 6 years later, the brand was reportedly valued at about $3.5 billion

Dwayne Johnson entered the tequila business in March 2020 with Teremana, a brand he built with three partners. Six years later, the company was reportedly valued at around $3.5 billion. Johnson is the name most people associate with the tequila, but the business behind it includes several other owners, each with a different role.

Teremana operates through Siete Bucks Spirits, founded by Johnson, Dany Garcia, Jenna Fagnan and Ken Austin. The Lopez family in Jalisco, Mexico, is also a co-owner, alongside German spirits company Mast-Jägermeister SE, which invested in 2022.

Who Owns Teremana Tequila? Meet the Founders

Johnson serves as Teremana's chairman and is involved in its product and brand direction. His enormous following has helped bring attention to the tequila, particularly during its early years. Still, getting people to recognise a bottle is only one part of building a spirits business.


Dany Garcia, Johnson's former wife and longtime business partner, helped establish the company. The two also co-founded Seven Bucks Companies, their broader business venture. Garcia brings experience in managing commercial projects that extend beyond Johnson's entertainment career.

The other two founders, Jenna Fagnan and Ken Austin, came from the spirits industry. Austin previously co-founded Tequila Avión, which Pernod Ricard acquired in a deal reportedly worth about $100 million.

The Lopez family's involvement is one of the less obvious parts of Teremana's ownership story. Based in Jesús María, Jalisco, the family has three generations of experience growing agave and making spirits. It isn't described simply as an outside manufacturer. The family is a co-owner of the brand.

The family established Destilería Teremana de Agave on its own grounds specifically for Teremana. Its work includes sourcing agave, roasting the plants in brick ovens and distilling the tequila in copper pots.

That gives the family a direct connection to the product before it reaches the bottle. Its role also means Teremana's ownership extends to people involved in making the tequila, not just the founders responsible for selling it.

Mast-Jägermeister SE, the German company known for Jägermeister, took an equity stake in Teremana in February 2022. The relationship had started earlier: the company was already Teremana's exclusive distributor.

The investment brought together two different parts of the business. Teremana had its founders and production partners, while Mast-Jägermeister offered an established distribution network. Selling tequila internationally requires more than advertising.

Richard Black, who became CEO in late 2022, handles Teremana's day-to-day operations. He previously spent more than a decade at Gruppo Campari, including a stint as vice president of U.S. marketing, before working at Westward Whisky.