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Ryan Reynolds Sells His Aviation Gin Company for $600 Million

Ryan Reynolds Sells His Aviation Gin Company for $600 Million Image
  • Posted on 12th Nov, 2022 07:10 AM
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Deadpool and Free Guy star Ryan Reynolds sold his Aviation American Gin brand to beverage alcohol company Diageo for $600 Million.

p>Deadpool and Free Guy star Ryan Reynolds sold his Aviation Gin brand to multinational beverage alcohol company Diageo. Under the terms of the agreement, the deal could be worth as much as $610 million depending on sales.

Founded in 2006 by Christian Krogstad and Ryan Magarian, Aviation American Gin was sold to Davos Brands by the gin's producer, House Spirits Distillery, in 2016. Reynolds purchased a stake in the brand from Davos in February 2018 and has been an active promoter of the brand ever since, even inserting the gin into a sequence from his 2010 thriller Buried.

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Now, Diageo has acquired the gin brand in a deal that includes an upfront payment of $335 million and the possibility of an additional $275 million based on the performance of the gin over a 10-year period. In an official statement on the deal, Reynolds said, "A little over two years ago, I became an owner of Aviation Gin because I love the taste of Aviation more than any other spirit. What I didn’t expect was the sheer creative joy learning a new industry would bring. Growing the brand with my company, Maximum Effort Marketing, has been among the most fulfilling projects I’ve ever been involved with. I want to thank Diageo for their incredible team and passion. We’re so excited for the next chapter of Aviation Gin, which, I promise, will require just as little reading." The Deadpool star will retain an "ongoing ownership stake" in the gin brand, according to Diago, which also acquired Astral Tequila, Sombra Mezcal, and TYKU Sake from Davos.

American Aviation Gin is far from Reynolds' only business venture in recent years. In 2019, the Deadpool star bought an ownership stake in Mint Mobile and recently launched a free new streaming service as part of the mobile wireless provider's marketing campaign, although it only featured one movie: Reynolds' 2003 action comedy Foolproof.

Reynolds has also been involved in a number of philanthropic activities in recent months. In addition to joining AbleGamers to help gamers with disabilities, he launched a self-funded diversity initiative designed to create more opportunities for people of color by providing paid work experience on the sets of his upcoming films. The initiative is reportedly hoping for its first project to be Reynolds' untitled time-travel film with director Shawn Levy, which is scheduled to begin production this fall depending on the situation with the coronavirus pandemic.

Of course, fans of Reynolds' comedic stylings will be glad to know that it isn't all business for Reynolds in the upcoming months. The Canadian-born actor will next be seen in the video game comedy film Free Guy.

Free Guy will be released in theaters on December 11, 2020.

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Source: The Hollywood Reporter

Ryan Reynolds Sells His Aviation Gin Company for $600 Million View Story