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George Clooney Sells Tequila Brand To Diageo For $1 Billion

George Clooney has sold his tequila brand Casamigos to Diageo for €900 million ($1 billion).

The actor co-founded the tequila brand just four years ago with partners Rande Gerber and Mike Meldma.

The Guinness owner will pay €600 million for Casamigos at first, and then pay another €200 million over 10 years if the brand reaches certain performance milestones, reported Independent.ie

In a statement, Clooney wrote, "If you asked us four years ago if we had a billion dollar company, I don't think we would have said yes. This reflects Diageo's belief in our company and our belief in Diageo. We'll still be very much a part of Casamigos. Starting with a shot tonight. Maybe two."

Reportedly, Clooney said that Casamigos - meaning house of friends - was born from tequila-filled nights, and was at first just for private events.

© 2017 - Checkout Magazine by Donna Ahern

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