George Clooney’s Casamigos Tequila Sells For $1 Billion
The high-end brand that sold 120,000 cases last year was recently bought by spirits giant Diaego, the team behind Smirnoff, Cîroc, Ketel One and Tanqueray.
The deal which includes Clooney’s business partners Rande Gerber and Mike Meldman who founded Casamigos in 2013, equals to $700 million in cash upfront and up to $300 million more if it hits sales targets over the next decade.
“If you asked us four years ago if we had a billion-dollar company, I don’t think we would have said yes,” said Clooney in a statement. “This reflects Diageo’s belief in our company and our belief in Diageo.”
Well damn, must be very, very, niiiice.