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Diageo announced today that it will acquire Aviation American Gin and its parent company, Davos Brands, for up to $610 million. Ryan Reynolds will stay on as co-owner of Aviation and continue to lend his creative direction to the brand’s marketing strategy.
The agreed-upon price tag includes an initial $335 million and further potential consideration of $275 million based on Aviation’s performance over the next 10 years.
Diageo CEO Ivan Menezes said in a statement that the acquisition is “in line with our strategy to acquire high growth brands with attractive margins that support premiumisation.”
“We are confident that Aviation American Gin will continue to shape and drive the growth of super premium gin in North America, and we are looking forward to working with Ryan Reynolds and the Davos Brands team to accelerate future growth,” Menezes added.
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