Ryan Reynolds has just sold his Aviation American Gin line to British alcohol company Diageo for an estimated $610 million USD, according to a report from Deadline. The deal sees an upfront payment of a staggering $335 million USD and come just a few years after the company also acquired George Clooney, Rande Gerber, and Mike Meldman’s Casamigos tequila company for $700 million USD, with another potential $300 million USD paid based on the brand’s performance.
“A little over two years ago, I became an owner of Aviation Gin because I love the taste of Aviation more than any other spirit,” Reynolds reflects. “What I didn’t expect was the sheer creative joy learning a new industry would bring. Growing the brand with my company, Maximum Effort Marketing, has been among the most fulfilling projects I’ve ever been involved with. I want to thank Diageo for their incredible team and passion. We’re so excited for the next chapter of Aviation Gin, which, I promise, will require just as little reading.”
In other business-related news, Trump has issued another executive order forcing TikTok to sell its U.S.-based businesses.
DISCLAIMER: We discourage irresponsible and/or underage drinking. Drink responsibly and legally.
Today we are delighted to announce the acquisition of Aviation Gin and Davos Brands – we are looking forward to working with Ryan Reynolds and the Davos team to accelerate future growth @aviationgin @vancityreynolds @davosbrands: https://t.co/GvWXQeIm0E pic.twitter.com/51vcFeAYPq
— Diageo News (@Diageo_News) August 17, 2020