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George Clooney, Rande Gerber, Mike Meldman Sell Casamigos Tequila Brand For $1 Billion

Deadline logo Deadline 6/21/2017 Mike Fleming Jr
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EXCLUSIVE: In a whopping deal, George Clooney, Rande Gerber and Mike Meldman are selling their premium tequila brand Casamigos to British beverage company Diageo. The price is $1 billion, sources are telling me. That is an incredible windfall for a product that the trio formed about four years ago.

Said Clooney in confirming the deal:  “If you asked us four years ago if we had a billion dollar company, I don’t think we would have said yes. 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.”

I have been listening this morning to Howard Stern interview Ashton Kutcher, who has made a fortune as a seed investor of companies including Uber and Airbnb, and while his results are impressive, this liquor windfall has got to be one of the biggest I’ve heard for an entrepreneurial Hollywood player.

Related video: Clooney gets a Casamigos cake for his birthday (via People)

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