Hollywood royalty George Clooney has sold the tequila company he co-founded just four years ago for a fee close to $1bn.
Yeah, that $1bn, with a ‘b’.
Diageo, the UK drinks firm which is home to Smirnoff, Johnny Walker and Baileys, announced they have purchased Clooney’s company, Casamigos, for $700m.
The fee could rise to $1bn depending on how Casamigos performs over the next decade.
Casamigos, a high end tequila producing and distributing company, was founded by Clooney with Rande Gerber and Mike Meldman in 2013.
“If you asked us four years ago if we had a $1bn company, I don’t think we would have said yes,” Clooney said in a statement released after the sale.
“This reflects Diageo’s belief in our company and our belief in Diageo. But we’re not going anywhere. We’ll still be very much a part of Casamigos. Starting with a shot tonight. Maybe two.”