Buzzing: Clooney and partners sell tequila to Diageo for $1.4 billion

Diageo has agreed to buy George Clooney's high-end tequila brand Casamigos in a deal valuing it at up to $1 billion, as the world's largest spirits maker seeks to boost its presence in a high-growth market.
Diageo has agreed to acquire George Clooney's tequila brand Casamigos for as much as $1.4 billion.
Diageo has agreed to acquire George Clooney's tequila brand Casamigos for as much as $1.4 billion. PHOTOS: AFP, NYTIMES

$1.4b for Clooney's tequila label

George Clooney should be in high spirits. London-based distiller Diageo has agreed to acquire his fast-growing tequila brand Casamigos for as much as US$1 billion (S$1.4 billion).

Casamigos was founded four years ago by the American actor, developer Mike Meldman and entertainment entrepreneur Rande Gerber, who is married to model Cindy Crawford.

The tequila is made by an undisclosed partner in Mexico.

A version of this article appeared in the print edition of The Straits Times on June 23, 2017, with the headline 'Buzzing'. Print Edition | Subscribe