Diageo buys Ryan Reynolds gin in $610m deal

Diageo has bought US gin brand, Aviation American, in a $610m (£466m) deal.

Aviation American is co-owned by Hollywood actor Ryan Reynolds, who has been a shareholder since 2018.

In the deal, Reynolds will remain the face of the gin for the next ten years as well as have creative control.

“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,” said Reynolds.

“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,” he added.

Ivan Menezes, who is the chief executive of Diageo, said: “We are delighted to announce this transaction, which supports our participation in the super premium gin segment in the US.”

“The acquisition of Aviation American Gin and the Davos Brands portfolio is in line with our strategy to acquire high-growth brands with attractive margins that support premiumisation.”

A typical bottle of the premium gin costs $27.

Diageo has previously bought George Clooney’s Casamigos tequila brand for $700m back in 2017, as well as a marketing partnership with David Beckham for Haig Club whisky.