George Clooney and partners sell tequila brand for $ 1 billion

It was a good idea for Amal Clooney to have rejected George Clooney's proposal to baptize the couple's "House" and "Amigo" twins, as the actor's premium premium tequila line, Casamigos, no longer belongs to the family.

Clooney and his associates, Rande Gerber and Michael Meldman, sold the brand to British food giant Diageo for about $ 1 billion. According to the CNBC business channel portal, Diageo will pay $ 700 million in advance, with the potential to shell out another $ 300 million according to business performance over the next ten years.


"If you had asked us four years ago if we had a $ 1 billion company, I do not think we would have answered yes," the actor told Deadline. "The transaction reflects Diageo's confidence in our company and our confidence in Diageo. But we're not going anywhere. We will still be a good part of Casamigos. Starting with a dose tonight. Maybe two. "Clooney, Meldman and Gerber released the label in 2013.

Diageo is a partner and distributor of the brand of Vodka Cîroc, by Sean "Diddy" Comb, a business that has helped him topping the list of FORBES hip-hop artists for many years. The company ranked 261st in the most recent Global 2000 list of FORBES's largest public companies, with a market capitalization of US $ 71.2 billion. Despite being only 20 years old, the liquor company can hold the title of being the holder of some of the world's best-selling brands: Smirnoff vodka, Baileys liqueur, Guinness black beer and Johnnie Walker whiskey. The company has more than 31,000 employees around the world and annual sales of $ 15.25 billion.

While boutique beverage brand ownership is not new to celebrities, going from scratch to a $ 1 billion sale in four years is remarkable. The sale of Casamigos will undoubtedly make other celebrities with brands of drinks more attentive. Musician Kenny Chesney released his Blue Chair Bay rum in 2013 (same year as Casamigos). Singer Toby Keith has been selling Mezcal since 2011. The Florida Georgia Line duo released Old Camp Whiskey last year while Kenny G recently announced Hana Gin. The Hanson brothers sell their own beer, MMMhops, on virtually every stop on the tour.