Aviation American Gin is to be acquired by Diageo

Diageo Plc will acquire Aviation American Gin and other liquors sold by Davos Brands LLC, which is co-owned by Ryan Reylonds, who is renowned for his portrayal in the film Deadpool.

The recent deal involving a total consideration of 610 million USD happens to be Diageo’s second acquisition in the recent years of a Hollywood-backed spirit. Three years back, Diageo acquired the tequila brand Casamigos, which was co- founded four years earlier by actor George Clooney.

Diageo agreed to an initial payment of 335 million USD and a further potential consideration of as much as 275 million USD based on the performance of Aviation American Gin over a 10-year period. The deal will extend Diageo’s presence in the super premium gin segment.

This transaction is expected to close before the end of 2020, subject to regulatory clearances.