Business & Practice

Diageo to Buy Aviation Gin, Backed by Actor Ryan Reynolds (1)

Aug. 17, 2020, 1:21 PM

Diageo Plc agreed to acquire Aviation American Gin and other liquors sold by Davos Brands LLC, which is co-owned by “Deadpool” actor Ryan Reynolds.

The deal, for a total consideration of $610 million, is Diageo’s second acquisition in recent years of a Hollywood-backed spirit. In 2017, the maker of Smirnoff vodka and Johnnie Walker Scotch whisky acquired the fast-growing tequila brand Casamigos, which had been co-founded four years earlier by George Clooney, for as much as $1 billion.

Diageo agreed to an initial payment of $335 million and a further potential consideration of as much as $275 million based on...

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