Ryan Reynolds’ Aviation Gin agrees to $610m sales deal… following the success of celebrity liquor brands like George Clooney’s Casamigos
Diageo, the world’s largest spirits maker, said on Monday it was buying Aviation American Gin, co-owned by Hollywood actor Ryan Reynolds, through the acquisition of Aviation Gin and Davos Brands for up to $610million.
The Deadpool actor became the face of Aviation Gin after purchasing a partial stake in the company in February 2018.
Diageo acquired Aviation Gin and its majority owner Davos Brands, which owns three other spirit brands – Astral Tequila, Sombra Mezcal and Tyku Sake – for an initial payment of $335million.
Reynolds and the company stand to make another $275million if sales continue to impress over the next decade.
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
Leading the industry: Buyer Diageo is a big player in the beer and liquor world, also behind Johnnie Walker, Smirnoff, Captain Morgan, and Tanqueray
The actor will retain his stake in Davos Brands, LLC but his role as a spokesperson remains unclear.
Aviation Gin reported 100 per cent growth in sales volumes in 2019 as demand for super-premium gin continues to surge in the US.
Ivan Menezes, chief executive of Diageo, said: ‘We are delighted to announce this transaction, which supports our participation in the super premium gin segment in the United States.
‘The acquisition of Aviation American Gin and the Davos Brands portfolio is in line with our strategy to acquire high-growth brands with attractive margins that support premiumization.
‘We are confident that Aviation American Gin will continue to shape and drive the growth of super premium gin in North America and we are looking forward to working with Ryan Reynolds and the Davos Brands team to accelerate future growth.’
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.’
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
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.
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.
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.