Diageo has reached a deal to add Aviation American Gin — co-owned by actor Ryan Reynolds and Davos Brands — to its portfolio. Diageo will pay up to $610 million to acquire Aviation as well as Davos’s other brands Astral Tequila, Sombra Mezcal and Tyku Sake. Reynolds will maintain an ownership interest in the brand and signed an agreement to continue working on its marketing.
Debra Crew, president of Diageo North America, told Financial Times she is “confident that with Ryan’s global reach that Aviation Gin can expand internationally.”
Source: Financial Times, August 2020