The much-maligned replacement for David Lee Roth has yet again been pushed out of a tour by Van Halen's original lead singer.
But Hagar is probably laughing all the way to the bank. He may not be able to "drive 55," but he does have a skill for picking out great business opportunities.
First on the list: In the 1990s, he started a successful chain of California-based mountain bike stores and designed a bike named after a stage nickname of his: Red Rocker.From there, he bought a restaurant/nightclub, the Cabo Wabo Cantina, in Cabo San Lucas, Mexico. That led to another location setting up shop at Planet Hollywood's Miracle Mile shopping mall in Las Vegas. Added to the portfolio is a chain of Sammy's Beach Bar & Grills. Born from the Mexico nightclub was Hagar's own brand of tequila, named, of course, Cabo Wabo. In 2007, Hagar earned more than $80 million selling a majority stake in the brand to Gruppo Campari. At the time of the sale, Hagar's Tequila was generating more than $60 million in annual sales throughout the world.
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