Ryan Reynold’s Aviation Gin agrees to $610m sales deal… following the success of celebrity liquor brands like George Clooney’s Casamigos
Ryan Reynolds is flying high after his Aviation Gin brand sold four nine figures.
The Deadpool actor became the face of the liquor line after purchasing a partial stake in the company in February 2018.
But now beverage behemoth Diageo is taking the reigns after shelling out $335million for the purchase upfront, according to Bloomberg.
Cheers! Ryan Reynold’s Aviation Gin has sold to the beverage giant Diageo for $335million and stands to make another $275 if their sales stay steady
Reynolds and company stand to make another $275million if sales continue to impress over the next decade.
Diageo is a big player in the beer and liquor world. The British company’s portfolio also includes Johnnie Walker, Smirnoff, Captain Morgan, and Tanqueray, among others.
Aviation was founded in 2006 and later purchased by Davos Brands, LLC, of New York in 2016.
Reynolds first connected with the American-style gin brand through WME and Endeavor’s Talent Ventures group to become the spokesperson and a partial owner
Leading the industry: Buyer Diageo is a big player in the beer and liquor world, also behind Johnnie Walker, Smirnoff, Captain Morgan, and Tanqueray
He’s a fan: Talking about Aviation’s new chapter in a statement, Reynolds said: ‘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.’ Ryan will retain his stake in Aviation’s old parent company Davos Brands, LLC
He will retain his stake in Davos Brands, LLC but his role as spokesperson remains unclear.
Talking about Aviation’s new chapter in a statement, Reynolds said: ‘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.
‘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.
Taking a shot: Diageo picked up George Clooney, restaurateur Rande Gerber and business partner Mike Meldman’s Casamigos tequila for $700million in 2017. Clooney is seen in 2015 above
‘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,’ he went on.
Reynolds and Aviation appear to be following a similar playbook as other celebrity spirit brands.
Diageo picked up George Clooney, restaurateur Rande Gerber and business partner Mike Meldman’s Casamigos tequila for $700million in 2017.
Sweetening that pot, the trio was promised an extra $300million based on subsequent sales numbers.