'Growing the brand has been among the most fulfilling projects I’ve ever been involved with,' the actor says.
Ryan Reynolds is about to become millions of dollars richer after selling his Aviation American Gin company!
ET has learned that Diageo, the world’s largest spirits maker, has reached an agreement to acquire the American style gin company the actor co-owned, through the acquisition of Aviation Gin LLC and Davos Brands LLC for an estimated $610 million based on sales over a 10-year period. A press release states that Reynolds will retain an ongoing ownership interest in the company.
"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, 43, shared in a statement. "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," he added. "We're so excited for the next chapter of Aviation Gin, which, I promise, will require just as little reading."
Reynolds has also already gone out of his way to write an epic out of office response, and needless to say, it's quite hilarious. When you try to email the Deadpool star, you currently get the following bounceback:
"Thanks for your email. I am currently out of the office but will still be very hard at work selling Aviation Gin. For quite a long time, it seems.
In related news, I just learned what an ‘earn out’ is... And I'd like to take this opportunity to apologize to everyone I told to go f**k themselves in the last 24 hours. My lawyers just explained how long it takes to achieve an 'earn out'... so... turns out I'm not as George Clooney as I thought. The point is, to those listed below, I'm sorry... and I'll indeed be needing your help in the coming months and years. Thanks in advance!
Mom, Blake, Peter, Diageo CEO, The Rock, George Clooney, Southern Glazer's, Betty White, TGI Friday's, Baxter, Calisthenics, AMC Theaters, Total Wine, The Number 8, Don Saladino, Darden, The Head of Alfredo Garcia, Soothing Lavender Eye Pillows."
Following news of the sale, Ivan Menezes, Chief Executive of Diageo, also released a statement on Monday, which read, "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 premiumisation. 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."
Back in 2017, Diageo paid $1 billion to acquire the Casamigos tequila brand, which was co-founded by George Clooney and Rande Gerber. The company also teamed up with P. Diddy in 2007 to sell Ciroc vodka, and is the maker of popular spirits like Johnnie Walker whiskey and Smirnoff vodka.
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