George Clooney Sold his Tequila Business for $1 Billion
On Wednesday, George Clooney’s tequila company Casamigos revealed that they will sell their company to Diageo for, wait for it… $1 billion!
“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", Clooney told CNBC via email. According to this statement, we believe that Clooney and co-owners Rande Gerber and Michael Meldman might still be a part of the company even after Diageo buys it.
Diageo will initially pay $700 million, with a potential extra $300 million based on the tequila's performance over 10 years.