Marin Independent Journal has issued the following report from Joe Wolfcale and Paul Liberatore:

Mill Valley musician SAMMY HAGAR was on cloud nine Monday, hours after it was announced he had sold 80 percent of his interest in Cabo Wabo Tequila to one of the world's top spirits company for $80 million.

Hagar, the former frontman for VAN HALEN, likened the deal to the music industry when a performer has a hit record on a small label and then a major company picks it up and takes it globally.

"It's awesome, it's really cool, I'm high and I'm happy," said Hagar, by telephone from his Mill Valley home where he celebrated the deal. "I was in over my head. I just want the tequila to be available everywhere. I'm really a Campari and soda kind of guy anyway."

Hagar, 59, said he has been working on the deal with Gruppo Campari of Milan, Italy, for nine months. Skyy Spirits of San Francisco, a subsidiary of Gruppo Campari, will continue to market Cabo Wabo globally with Hagar retaining a 20 percent interest in the business.

"I'm still going to be involved, we're just going to do it globally now," Hagar said.

The deal becomes effective in January.

Cabo Wabo Tequila originated out of Hagar's Cabo Wabo Cantina in San Lucas, Mexico. He began distributing it in 1999. Last year, his company sold 147,000 cases.

Hagar joined forces with the Rivera family in Mexico. Cabo Wabo is made from 100 percent Blue agave and is sold in four different types, including reposado, blanco, anejo and uno, the company's latest luxury product.

"Sammy Hagar and Skyy Spirits share the same passion for quality, luxury and style," said Gerry Ruvo, chief executive and president of Skyy Spirits. "Cabo Wabo is known among tequila connoisseurs as the ultimate in taste. We look forward to working closely with Sammy and his team to introduce the brand to a global audience.

Ruvo said Great Britain, Spain, Australia, Southeast Asia, Japan, Germany and Italy are key international markets where the product is expected to flourish.

Hagar developed a worldwide following during his musical career as a solo performer and lead singer and songwriter for Van Halen in the 1980s and early 1990s. He enjoyed an early stint with Montrose and is a Rock 'n' Roll Hall of Fame inductee.