Ryan Reynolds Just Sold The Gin Company He Bought Two Years Ago For A Whopping $610 Million
Source - Earlier today, alcoholic drinks group Diageo announced the purchase of Davos Brands for up to $610 million. That colossal sum includes an upfront payment of $335 million, with the rest contingent upon performance of the brand over the next decade.
The complete portfolio being exchanged includes brands such as Astral Tequila, Sombra Mezcal, and TYKU Sake. But it will be most familiar to general consumers for Aviation American Gin. The label attained widespread recognition in 2018, after Hollywood A-lister Ryan Reynolds purchased an undisclosed stake in the brand.
According to the terms of this new deal, he will retain an ongoing ownership interest. Though exact details there are unconfirmed.
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^^ That's my reaction every time I hear a celebrity made a bajillion dollars off of a liquor company for doing nothing at all other than lending them their face. (Looking at you, Clooney.) I should be happy for them but I'm not. Some people just have it all and it's not fair. Imagine being born as handsome as Ryan Reynolds, becoming a successful actor, marrying one of the most gorgeous women on earth, then, right when you think it can't get any better, the gin company you probably forgot you purchased two years ago sells for $610 MILLION? Insane.
Here's what Reynold's had to say:
In a statement issued through Diageo, Reynolds had this to say: “A little over two years ago, I became an owner of Aviation Gin because I love the taste of Aviation more than any other spirit. What I didn’t expect was the sheer creative joy learning a new industry would bring. Growing the brand with my company, Maximum Effort Marketing, has been among the most fulfilling projects I’ve ever been involved with. I want to thank Diageo for their incredible team and passion. We’re so excited for the next chapter of Aviation Gin, which, I promise, will require just as little reading.”
I just want to know how much he put in. How much money did he put in to get that kind of return after two years? $10 million? $20 million? 30? 50? 75? Who knows. Congrats on the sale, Van Wilder. You're bottle still looks like trash…
(***)Runs out to buy a bottle