Ryan Reynolds’ Aviation gin sells to Diageo for $ 610 million

Ryan Reynolds’ Aviation American Gin takes off: spirits giant Diageo acquires the brand for an estimated $ 610 million.

Diageo, the alcohol giant that owns spirits like Johnnie Walker and Smirnoff, announced Monday its agreement to take under its wing the American gin of the actor “Deadpool”. Reynolds will retain an ongoing interest in the gin.

Ryan Renolds’ Aviation Gin sells to Diageo. (Getty).

The deal is worth up to $ 610 million and includes an upfront payment of $ 335 million and additional potential consideration of up to $ 275 million based on sales of Aviation American Gin over a period of 10 years, said Diageo. Diageo’s spirits portfolio also includes gins like Tanqueray and Gordon’s.

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The global Gin renaissance has taken off in the States in recent years. Distillers sold nearly 10 million 9-liter cases of gin in the United States in 2019, with revenue of $ 918 million last year, a 3% increase from 2018, according to the Distilled Spirits Council. Renolds bought a minority stake in Aviation Gin in 2018.

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“A little over two years ago, I became the owner of Aviation Gin because I love the taste of aviation more than any other spirit. What I didn’t expect was the sheer creative joy of learning that a new industry would bring, ”Reynolds said in a statement Monday, adding that growing the brand with his company Maximum Effort Marketing has was “one of the most rewarding projects I have ever been.” involved.”

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Movie stars have profited from the spirits trade in recent years. Likewise, George Clooney’s tequila company Casamigos, owned with Rande Gerber and Mike Meldman, was sold to Diageo for $ 700 million, with an additional $ 300 million based on its performance in a 2017 deal.