Drinks giant Diageo has inked a one billion US dollar deal (£790 million) to buy a premium tequila brand co-founded by Hollywood actor George Clooney.
The proprietor of Guinness and Captain Morgan’s rum said it wanted to put US-based Casamigos through a worldwide development to help reinforce its solid footing in the tequila showcase.
Casamigos, which was established by the Ocean’s Eleven performing artist nearby Rande Gerber and Mike Meldman four years prior, looks set to reinforce the quantity of cases sold by 41% to 170,000 before the current year’s over.
Ivan Menezes, CEO of Diageo, stated: “We are delighted to announce this transaction today to extend our participation in the tequila category.
“It supports our strategy to focus on the high growth super-premium and above segments of the category.
“With the global strength of Diageo we expect to expand the reach of Casamigos to markets beyond the US to capitalise on the significant international potential of the brand.
“We look forward to building on the remarkable success of Casamigos to date.”
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