He is as well known for his Cabo Wabo tequila as he is for fronting the band Van Halen but he certainly will have made more cash from the tequila. In May he inked a deal to sell 80% of his Cabo Wabo tequila business to Grupo Campari for $80 million. What started as the house tequila for his Cabo Wabo Cantina rode the tequila craze to sales of 140,000 cases in 2006. Hagar agreed to sell the share because he was unwilling to do the work required to make it an international brand. He knew only a large company could take it any further and it was time to cash in. He make just as much on the other 20% when it is all said and done. What a great story. A man invests in what he knows. His next option was a line of hair bleaching products.
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