George Clooney Is Out of the Tequila Business
by EG
George Clooney's Tequila brand has struck a deal for a buyer.
Diageo, a multinational alcohol and beverages corporation, has snapped up Clooney's upstart high-end Casamigos brand in a deal that values the brand "at up to $1 billion," the company said Wednesday.
Other terms of the deal weren't disclosed, and it is expected to close in the second half of this year. Diageo owns brands like Don Julio, Smirnoff, Captain Morgan, Johnnie Walker and Guinness.
“If you asked us four years ago if we had a billion dollar company, I don’t think we would have said yes," Clooney said in a statement. "This reflects Diageo’s belief in our company and our belief in Diageo. But we’re not going anywhere. We’ll still be very much a part of Casamigos. Starting with a shot tonight. Maybe two."
Read the rest of this article at The Hollywood Reporter.
George Clooney has recently appeared in Money Monster.