News Alert: Diageo Acquires Super-Premium Tequila Casamigos
June 21, 2017Diageo 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.
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