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Good News for Ryan Reynolds' Side Hustle

Liquor giant buys gin label in which the celeb has a stake
By Newser Editors,  Newser Staff
Posted Aug 17, 2020 2:13 PM CDT

(Newser) – Ryan Reynolds is part of a big new deal, but it has nothing to do with a Deadpool sequel. Aviation American Gin, the brand of gin he hawks and has a stake in, has been bought by liquor giant Diageo as part of a deal worth up to $610 million, reports the Wall Street Journal. The price includes Aviation Gin LLC and Davos Brands LLC, which makes Astral Tequila and Sombra Mezcal. Of that figure, $330 million will be paid upfront, and the rest will be determined by sales over the next 10 years, per CNBC. Reynolds will retain a stake in the company.

Since Reynolds became affiliated with the Aviation brand in 2018, sales have boomed, rising from $20 million that year to $40 million in 2019, per the Journal. The brand has 1.3% of the American gin market, and it's in the "super-premium" category, with a 750-ml bottle selling for $27. Diageo is the same company that bought George Clooney's Casamigos tequila brand and, before that, partnered with Sean "Diddy" Combs to push Ciroc vodka. (Reynolds recently made a pitch of a different kind, related to COVID in his native Canada.)

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