Oscar De La Hoya, Mario Lopez channel Mexican roots and get into tequila

Boxing legend Oscar De La Hoya teamed up with actor and childhood friend, Mario Lopez, who is best-known for playing A.C. Slater on the popular television series “Saved by the Bell,” to produce Casa Mexico Tequila.

“You take a look at other brands, and so Mario and I thought well look we're both Mexican-American — I was born here proudly, obviously,” he told FOX Business’ Maria Bartiromo. “But with Mexican roots and tequila’s Mexican, it's made in Mexico … So why not get into it? Why not … carry on that tradition?”

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De La Hoya, an eight-time world champion and entrepreneur, believes that there is big a demand story behind tequila, especially since other major owners, specifically Patron Tequila co-founder John Paul DeJoria and George Clooney’s Casamigo’s produced such big paychecks.

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Last year, DeJoria sold his 70 percent stake in the tequila business to Bacardi Limited for $5.1 billion, and Diageo PLC agreed to buy Clooney’s high-end tequila brand in 2017 in a deal valued at $1 billion.