Diageo to swallow Ryan Reynolds gin brand in US
Johnnie Walker owner Diageo is to buy a gin brand co-owned by Hollywood star Ryan Reynolds as part of a deal worth up to $610 million (£466m).
The spirits giant – Scotland’s biggest whisky producer – said it had agreed to acquire Aviation American Gin, which has been co-owned by the Deadpool actor since 2018.
It said it will acquire Aviation Gin and its majority owner Davos Brands, which owns three other spirit brands, for an initial payment of $335m, with up to $275m depending on the gin brand’s performance. Reynolds will retain a stake in the gin brand as part of the acquisition, it added.
Aviation Gin reported 100 per cent growth in sales volumes in 2019 as demand for super-premium gin continues to surge in the US.
Diageo boss Ivan Menezes said the transaction supported the firm in the “super premium” gin segment in the US, adding: “We are confident that Aviation will continue to shape and drive the growth of super premium gin.”