News Alert: Diageo Acquires Super-Premium Tequila CasamigosJune 21, 2017
Diageo has agreed to acquire super-premium Tequila brand Casamigos. The transaction values Casamigos at up to $1 billion, with initial consideration set at $700 million and a further potential $300 million based on a performance linked earn-out over 10 years. Founded in 2013 by actor George Clooney and entrepreneurs Rande Gerber and Mike Meldman, Casamigos ($45.99-$54.99 a 750-ml.) was up 3% to 69,000 cases in the U.S. last year, according to Impact Databank. The brand joins Don Julio and DeLeon in Diageo’s super-premium Tequila portfolio, with the former selling roughly 375,000 cases and the latter around 20,000 cases in the U.S. in 2016.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.