Cheers, George Clooney. Just when you thought you couldn’t envy someone’s life more, he turns around and sells his tequila company for up to $1 billion.
Yesterday, Diageo—the global leader in spirits that owns popular brands such as Captain Morgan, Crown Royal, Smirnoff and Johnnie Walker—will acquire Casamigos for $700 million, with the potential of an additional $300 million depending on performance. The acquisition essentially means that Diageo is paying almost $500 per bottle for a tequila that has a shelf value of roughly $50.
Clooney co-founded the company with his partners in 2013, and even he was as shocked as we were about the purchase. “If you asked us four years ago if we had a billion-dollar company, I don’t think we would have said yes,” he says. But Clooney did state that he will continue to remain a vital part of the brand after the acquisition is finalized.
Along with the arrival of his twin daughters two weeks ago, you could say June has treated the award-winning actor pretty generously. Actor and director Albert Brooks even joked about it on Twitter.
Interested in learning about other celebrity-owned spirits? Here’s a list of many more. SaveSave