Diageo to buy Ryan Reynolds' Aviation Gin, Davos Brands in $610M deal
Diageo, the world’s largest spirits maker, said on Monday it was buying Aviation American Gin, co-owned by Hollywood actor Ryan Reynolds, through the acquisition of Aviation Gin LLC and Davos Brands LLC for up to $610 million US.Under the deal, Diageo will also own other brands in the Davos Brands’ portfolio, including Astral Tequila, Sombra Mezcal and TYKU Sake, with Reynolds retaining an ownership interest in Aviation American Gin.The move comes just two weeks after the maker of Johnnie Walker whisky and Smirnoff vodka posted a yearly profit that nearly halved as widespread closures of pubs and restaurants, cancellation of sporting events and a plunge in duty free sales hit global demand.The company isn’t new to acquiring brands owned by