Ryan Reynolds has reportedly sold his Aviation American Gin line to British multinational beverage alcohol company, Diageo for an estimated $610 million. Reynolds will see an upfront payment of $335 million for the deal with the potential for an additional $275 million based on sales over the next 10 years. The alcohol giant also owns Casamigos; George Clooney, Rande Gerber and Mike Meldman’s tequila company. Diageo purchased Casamigos for $700 million with the potential for another $300 million based on performance.
Reynolds will continue to retain ownership in the gin brand. Diageo announced the deal on Monday and Reynolds also released a statement, noting, “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.”
Featured Image via Aviation Gin/Youtube Screengrab