Alcoholic beverages giant Diageo says that it has acquired the Aviation American Gin brand co-owned by actor Ryan Reynolds, in a deal that could be worth as much as $610 million.
The deal includes an upfront payment of $335 million, with an additional $275 million up for grabs based on the performance of the Aviation gin brand over a 10 year period.
Reynolds will retain an "ongoing ownership stake" in the gin brand, Diageo says. As part of the deal, the company has also acquired Astral Tequila, Sombra Mezcal and TYKU Sake, which are the other liquor brands owned by Aviation's parent company Davos Brands LLC.
While it was founded in 2006, Reynolds only acquired a stake in the gin company two years ago. Liquor and spirit brands have become a.
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