OCEAN’S BILLION
Clooney salts away mega-bucks for tequila biz
GEORGE CLOONEY is serving up nearly $1 billion worth of tequila.
The 56-year-old Academy Award-winning actor and his high-profile partners sold their popular booze company Casamigos for the dizzying price to British-based Diageo, the world’s largest spirits maker, the Daily News has confirmed.
But Clooney isn’t completely putting down the shot glass: He will continue to promote the upscale brand he launched in 2013 with real estate mogul Michael Meldman and Rande Gerber — the husband of former supermodel Cindy Crawford.
“If you asked us four years ago if we had a billion-dollar company, I don’t think we would have said yes,” the “Ocean’s Eleven” star said in a statement. “We’re not going anywhere. We’ll still be very much a part of Casamigos, starting with a shot tonight. Maybe two.”
Diageo will initially fork over $700 million to Clooney and his partners, with the potential for an additional $300 million — based on its performance over the next 10 years.
The deal is slated to close by the end of the year.
Tequila is currently one of the fastest-growing spirits in the world. Casamigos sold 120,000 cases last year, primarily in the U.S., and it’s on track to sell even more, at least 170,000 cases this year.
The big-bucks purchase of Casamigos is the latest effort by alcohol giant Diageo to expand its tequila portfolio.
In 2015, the company sold Bushmills Irish whisky in exchange for full ownership of the high-end tequila brand Don Julio. It also owns less-known tequila brands DeLeon and Peligroso.
Diageo also owns major alcohol brands including Smirnoff vodka, Johnnie Walker blended Scotch whisky and Guinness.
Company officials said they plan to expand Casamigos’ global presence.
Clooney’s brand of booze comes in three basic varieties: blanco, tequila that has not been aged for more than three months, resulting in a lighter color and smoother taste; wood-barrelaged reposado, which is darker; and anejo, aged for a least one year.
Bottles sell for between $45 and $55.
“The product is really well made,” retail spirits expert Gary Fisch told the News.
“We’ve been selling it very well. The everyday consumer is looking for it. Even the clear is a great flavor. It’s very smooth. It’s definitely a high-quality, superpremium product.”
Casamigos — which loosely translates to “house of friends” — launched four years ago as a passion project between Gerber and Clooney. The pair first created a private collection to share with friends and family, and later started selling it.
The brand was so well received, they took the company public in 2013.