Montelobos has business ties to William Grant & Sons, the makers of scotch whisky. Iván Saldaña, who has a background in molecular plant biology, founded Montelobos Mezcal. Saldaña worked with two mezcal-producing families in Oaxaca and Puebla. The mezcal is popular inside Mexico and is also exported. Montelobos Mezcal is committed to sustainability and has pledged to never use wild agaves in their mezcal production.
In October 2019, Campari Group (Davide Campari-Milano SpA) purchased a controlling stake in Montelobos. The $35.7 million USD investment also included a majority stake in Ancho Reyes chili liqueur.