Well, it couldn’t have happened to a nicer guy, I guess.
Drinks giant Diageo just announced they’ve purchased Aviation American Gin from Ryan Reynolds (a co-owner along with Davos Brands) for an estimated $610 million. According to Vanity Fair, Diageo will pay $335 million upfront with an additional $275 million payday that depends on the gin’s performance over the next decade.
The sale also includes other Davos products such as Astral Tequila, Sombra Mezcal and TYKU Sake. Reynolds will retain some type of unspecified ownership stake.
Aviation, launched in 2006, is the currently the second largest “super premium gin” in the United States, as Reynolds has brought renewed attention to the brand since becoming a part owner in 2018 — most recently, the brand cleverly repurposed an actress from a controversial Peloton ad.
As the actor notes in a press release: “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. 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.”
While the Aviation purchase doesn’t quite match what George Clooney got for his billion-dollar sale of Casamigos tequila to Diageo back in 2017, it’s fair to say Reynolds — also an investor in Mint Mobile and a board member of Tinder parent company Match Group — has developed an enviable business acumen (and a more enviable bank account).
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