Diageo and Casamigos

One of the biggest Tequila deals in the past few years was Diageo’s US$1 billion spend on Casamigos, the brand co-founded by actor George Clooney.

The deal, which was announced in June 2017 and completed two months later, saw Diageo initially pay US$700m for the brand. The firm will potentially pay a further US$300m depending on Casamigos’s performance over the next 10 years

Casamigos is the fourth brand in Diageo’s Tequila portfolio, which also includes Don Julio, Deleón, and Peligroso.

At the time of the deal, Diageo said it would focus on expanding the presence of Casamigos in both its key US market and internationally.

Casamigos was founded in 2013 by Clooney, Rande Gerber and Mike Meldman.

Casamigos and Don Julio have boosted Diageo’s financial results in recent years, with both brands increasing by double digits during the group’s fiscal 2020.