Online Broadband Guide
Online Broadband Guide


Diageo to buy Clooney's tequila brand in $1 billion deal

Clooney, star of such films as Batman and Robin, which is "celebrating" it's 20th anniversary this year, has his own tequila business.

Well, the famed Tequila brand is no longer under Clooney and Gerber's tutelage.

Diageo is the parent company of several major alcoholic beverages including Smirnoff, Captain Morgan and Guinness.

"As you do when you're in Mexico, you drink a lot of tequila", Gerber told CNBC a year ago, explaining how he and Clooney came up with the idea of designing a tequila to their own tastes. Today (June 21) their company was purchased by Diageo, the multinational alcoholic beverages company headquartered in the United Kingdom, for as much as $1 billion, according to a statement by Diageo.

They have said that Casamigos - meaning house of friends - was born from tequila-filled nights, and was at first just for private events. Starting with a shot tonight. But we're not going anywhere. (DGE.L, DEO) agreed to acquire Casamigos, the super-premium tequila brand in the US.

Rande, who is married to supermodel Cindy Crawford, told TMZ of the billion dollar sale.

Diageo said it will pay $700 million to Clooney and partners initially, and that they expect the transaction to close in the second half of 2017, CNBC reported. "This, combined with the strengths of Diageo, will ensure the continued momentum of the brand in the U.S.as well as realizing the growth opportunity from global expansion", the company said in a release.

"It immediately took off", Gerber said in November (16).

Diageo chief executive Ivan Menezes said in a statement that the purchase supports the company's "strategy to focus on the high growth super-premium and above segments of the category".

Sales of super-premium tequila brands grew almost 600 per cent in the U.S. between 2003 and 2015, according to the Distilled Spirits Council of the United States, far outpacing other spirits.

"We never could have imagined it", Gerber added to TMZ.

follow

editors' picks

June 22, 2017
Government buys luxury flats in Kensington for Grenfell inferno victims
London Mayor Sadiq Khan has said that all Grenfell residents will be rehoused in the area unless they choose not to be. The British government has committed to finding housing for all the people who lost their homes in the fire.

June 20, 2017
USA to announce travel ban for North Korea?
Warmbier is in stable condition at UC Medical Center, where he was taken Tuesday night after his arrival in Ohio . The 22-year-old arrived back in the USA on Tuesday after being detained in the pariah state since January 2016.

June 20, 2017
Cosby judge could revisit issue of revealing names of jurors
Cosby admitted under oath that he procured sedatives for the goal of giving them to young women with whom he wanted to have sex. The entertainer is also battling sexual battery or defamation cases still pending by 10 women in California and MA .

June 19, 2017
Cosby prosecutor undeterred by mistrial, vows to try again
Jurors have already discussed the case for more than 50 hours since Monday, leading to Cosby's lawyer to push for a mistrial. Andy Lassner, executive producer of The Ellen Show , wrote " I BELIEVE YOU" to the women accusing Cosby of sexual assault .

June 18, 2017
Taylor Swift to Spotify: You belong with me
From there, the popcorn-eating masses got to enjoy lots of Twitter shade and Swift's "Bad Blood", which is about the whole beef. This just in: Taylor Swift is making every one of her albums available on all music streaming services tonight at midnight.

June 18, 2017
DUP head: Talks with UK Conservatives going well
As usual, Scotland's First Minister Nicola Sturgeon is calling for more nationwide involvement in the actual Brexit talks. Under the proposed deal, the DUP is expected to pass the Queen's Speech and budgets in exchange for Tory concessions.

June 18, 2017
Britain, EU in suspense
Corbyn would back a call for a referendum on Northern Ireland leaving the United Kingdom and joining Ireland. May held talks with the Democratic Unionist Party ( DUP ) on Tuesday in a bid to avoid another election.

June 17, 2017
Boris Johnson denies plot to topple UK PM Theresa May
The speech will be followed by several days of debate and a vote - and defeat would nearly certainly topple the government. This is expected to mean a softer Brexit negotiating position than may have been the case under a Conservative majority.

June 15, 2017
Gunman opens fire on members of Congress at park, later dies
At 9:45 a.m., he was on his way to a briefing on the shooting and as yet has no official comment, staff in his D.C. office said. Ed Perlmutter during the Congressional Baseball Game at Nationals Stadium in Washington on Thursday, June 23, 2016.

June 14, 2017
Golden State Warriors: 2017 parade route and time
Warriors players - and even head coach Steve Kerr - have been outspoken critics of President Donald Trump and his policies. In 2016, the Warriors celebrated their title from the previous year by visiting former President Barack Obama .