British company Diageo will acquire Aviation American Gin, co-owned by Hollywood actor Ryan Reynolds.
It is already known that the deal will amount to 610 million dollars. This will allow Diageo to expand its already large portfolio of premium spirits brands. In particular, the company owns such well-known gin brands as Tanqueray and Gordon's.
Reynolds acquired an unspecified minority stake in Aviation American Gin in 2018, which has had a very positive impact on the development of the brand. At the same time, the actor, who currently holds the position of creative director, plans to take part in the further development of the brand after it goes to Diageo.
Today, Aviation American Gin is the second largest super premium gin brand in the United States. Its sales volumes (0.75l bottle price - $27) increased by more than 100% in 2019, which provided 40% with growth in sales of gin in this category in the country. In general, gin consumption in the US is growing, in 2019, producers received $980 million in revenue, which is 3% more than in 2018.
Note that Diageo is no stranger to acquiring brands associated with Hollywood celebrities. So, in 2017, the company paid $1 billion to acquire Casamigos, a super-premium tequila brand co-founded by George Clooney. The company also previously teamed up with music producer and rapper Sean "Diddy" Combs to sell Ciroc vodka.
The takeover of Aviation American Gin comes two weeks after it was revealed that the annual profit from whiskey sales Johnnie Walker and vodka Smirnoff (both brands also owned by Diageo) has almost halved. The widespread closure of pubs and restaurants, the cancellation of sporting events and a sharp reduction in global supplies have led to this.