Diageo has agreed to acquire Davos Brands LLC for $610 million. The portfolio of brands includes Aviation Gin, which benefited from Ryan Reynolds’ investment (2018) and marketing strategy. In 2019, one year after Reynolds’ investment in the company, sales reportedly doubled from $20 million to $40 million. Analysts estimate that the company sold 96,000 cases last year.
The world’s largest liquor maker said it would make an initial payment of $335 million and a further potential consideration of as much as $275 million based on performance over 10 years. The deal is expected to close by the end of the year.