Spirit and food manufacturer Gruppo Montenegro will distribute Mexico-based Jose Cuervo’s products in Italy.

According to the deal, Gruppo Montenegro will distribute Jose Cuervo’s range of brands, including Bushmills Irish Whiskey, Jose Cuervo Tequila, Boodles British Gin, and Kraken Black Spiced Rum, reported thespiritsbusiness.com.

Gruppo Montenegro CEO Marco Ferrari was quoted by the website as saying: "We are honoured to be able to represent such an exciting portfolio of historic, prestigious, innovative and fast-growing brands with which we share many fundamental values.

"We’re confident that our distribution and strategic capabilities will allow us to seize on all opportunities."

"Distribution of this portfolio represents a great opportunity as well as an exciting challenge for our group, as we strive to make full use of the growth potential of these great brands.

"We’re confident that our distribution and strategic capabilities will allow us to seize on all opportunities".

Gruppo Montenegro will commence distribution from 1 July.

This distribution agreement will enable Gruppo Montenegro to bolster its position in the Italian beverage segment.

Set up in 1885, Gruppo Montenegro owns brands such as Vecchia Romagna and Amaro Montenegro.

Media reports have emerged that the Mexican firm is planning to raise up to $1bn through IPO in the third quarter of this fiscal year.