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Actor Ryan Reynolds Sells Aviation Gin Brand For A Reported $610 Million

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Earlier today, alcoholic drinks group Diageo announced the purchase of Davos Brands for up to $610 million. That colossal sum includes an upfront payment of $335 million, with the rest contingent upon performance of the brand over the next decade.

The complete portfolio being exchanged includes brands such as Astral Tequila, Sombra Mezcal, and TYKU Sake. But it will be most familiar to general consumers for Aviation American Gin. The label attained widespread recognition in 2018, after Hollywood A-lister Ryan Reynolds purchased an undisclosed stake in the brand. According to the terms of this new deal, he will retain an ongoing ownership interest. Though exact details there are unconfirmed.

In a statement issued through Diageo, Reynolds had this to say: “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.”

Reynolds’ trademark cheekiness aside, this is serious business. The blockbuster deal recalls Diageo’s 2017 acquisition of another celebrity-backed brand: George Clooney’s Casamigos. Aviation, for its part, is the second largest US driver within the super premium gin segment. And Reynolds’ star power has had a lot to do with its rapid growth. In 2019, Aviation grew volumes at over 100%, adding the highest number of cases and accounting for 40% of super premium gin segment growth according to figures released by Diageo.

The company already owns some of the top-selling names in the category—including Tanqueray and Gordon’s. But these are fairly traditional London Dry bottlings. With this latest addition Diageo is obviously hoping to court a new audience. Namely: millennial consumers who are compelled by the more accessible tonalities of so-called ‘New World Gin.’ That basically means less juniper-forward, for the laypeople out there.

“We are delighted to announce this transaction, which supports our participation in the super premium gin segment in the United States,” said Ivan Menezes, Chief Executive of Diageo. “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.”