Ryan Reynolds has sold his Aviation Gin to Diageo but will continue to be the face
of the brand for the next 10 years.
19 Aug – Anyone who often scrolled through Ryan Reynolds' social media would notice that the actor was great at promoting Aviation Gin, a brand he'd co-owned for the past couple of years.
Now, it's been revealed that Reynolds has sold the gin brand to Diageo, the British company behind renowned alcohol brands such as Johnnie Walker, Guinness and Tanqueray.
In a press statement by Diageo, it was announced that it is acquiring Aviation American Gin through the acquisition of Aviation Gin LLC and Davos Brands LLC ('Davos Brands'), for a total consideration of up to USD610 million.
This includes an initial payment of USD335 million and a further potential consideration of up to USD275 million based on the performance of Aviation American Gin over a ten- year period, it stated.
Reynolds, who will maintain an ownership interest and continue to be the face of the brand for the next decade, said in the statement, "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."
Blake Lively just can't escape Ryan Reynolds' trolling
(Photo source: ELLE | VALERY HACHE | AFP via Getty Images).
True to his hilarious nature, he even managed to troll wife his wife, actress Blake Lively, in the deal. It is reported by Insider that the actor has set a tongue-in-cheek "out of office" email message for anyone who tries to email him and it mentions Blake's name, among many others.
"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."
"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--- 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!"
Among the people and brand listed were his mom, wife, TGI Friday's, AMC Theatres, George Clooney and The Rock.
Clooney previously also sold his tequila brand Casamigos to Diageo in 2017 for USD1 billion, while Dwayne "The Rock" Johnson founded and currently owns the ultra-premium tequila brand Teremana Tequila.
(Photo source: Ryan Reynolds' Facebook)