Ryan Reynolds sells his brand of gin for 500 million | People

Ryan Reynolds boasts of being one of the highest paid actors in Hollywood. Specifically, it occupies the number two position in the list recently updated by the magazine Forbes. But his income does not come only from the movies, but also from his businesses. One of them is Aviation American Gin, a brand of gin produced in Portland (Oregon, USA), which has just been sold for 610 million dollars (about 512 million euros).

This was announced by Diageo, a British company specializing in alcoholic beverages, which has acquired Davos Brands – a company that includes the Gin brand of Reynolds, Astral Tequila, Sombra Mezcal and Tyku Sake – for an initial payment of 335 million dollars (plus of 281 million euros) and that will contribute the rest based on the profitability of the product during the next ten years. The CEO of Diageo, Ivan Menezes, has explained through a statement that his company seeks to gain a foothold in the business of the most select beverages, accustomed until now to operating in a cheaper market. A three-quarter-liter bottle of Aviation American Gin costs about $ 23, and is currently the second-largest gin brand of its kind in the United States. “We are confident that Aviation American Gin will continue to shape and drive the growth of super gin. premium in North America and we look forward to working with Ryan Reynolds and the Davos Brands team to accelerate future growth, ”said Menezes.

In this way, the actor will maintain his minority stake in the brand, although it has not yet been specified whether he will continue with his work as a spokesperson, since since he became a co-owner in 2018 he was the image of the drink. A brand that, despite having doubled its sales in 2019, has suffered the ravages of the coronavirus crisis like so many others. For example, within months of buying part of the business, Reynolds began selling its gin on the planes of Richard Branson, founder of the now bankrupt airline Virgin. However, Aviation American Gin resists because it is a product that in the United States is consumed more in private settings than in public places.

Tycoon Richard Branson and actor Ryan Reynolds.Twitter

Aviation American Gin is the latest acquisition from Diageo, whose CEO is used to doing business with familiar faces. In 2017, he bought Casamigos, the tequila brand that George Clooney created four years earlier with Rander Gerber, husband of model Cindy Crawford, for $ 1 billion (897 million euros then). That was a good deal both for the actor, who took more millions of dollars than Reynolds now, and for Diageo, which in the last year has managed to grow its net income by 70%.

George Clooney and Rander Gerber, husband of Cindy Crawford, founders of the Casamigos tequila brand.
George Clooney and Rander Gerber, husband of Cindy Crawford, founders of the Casamigos tequila brand.

Celebrities thus go from being the image of a brand to being part of it, with the alcoholic beverages sector being one of the most demanded by celebrities. Jay-Z, who is hip-hop’s first billionaire, also owes his massive fortune to the champagne and cognac business. Beyoncé’s husband bought the Armand de Brignac champagne house in 2014, where he sells normal bottles for 265 euros and 30-liter bottles for 180,000. According Forbes, the rapper’s stake in the champagne house is worth 275 million euros. To which must be added, in addition, the 90 million euros in which his part of the business in the D’Usse cognac house is valued.

Among Justin Timberlake’s different businesses is tequila. He always had a soft spot for this high-proof alcohol and decided to create his own brand in 2009, after visiting a distillery in Jalisco. He originally called her 901, after the zip code of his hometown of Memphis. The singer took the business to another level in early 2014 with Beam Suntory, the company that produces Sauza tequila, at a time when the consumption of this drink grew in the United States, a sector that other stars have also joined. like Carlos Santana, with Casa Noble, and Adam Levine, with Santo Mezquila.

Drew Barrymore, Brad Pitt and Francis Ford Coppola prefer to bet on wines. A business path that Cameron Diaz has also chosen with a range of organic white and rosé wines called Avaline, made with Spanish grapes, specifically from the Catalan Penedés. “I have always believed that the key to wellness is balance. Creating a clean wine full of natural goodness and free of dozens of unwanted extras helps me find this balance when I am enjoying a glass of wine, ”says the actress in her presentation on Instagram.