Today, alcoholic drinks group Diageo stated, the purchase of Davos Brands for approximately $610 million. This big 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 big brands such as Astral Tequila, Sombra Mezcal, and TYKU Sake. But it will be most familiar to normal consumers for Aviation American Gin. The label attained world wide recognition in 2018, after Hollywood star 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.
“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,” said Reynolds in a statement issued through Diageo.
