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