Drinks giant Diageo has completed the acquisition of Aviation American Gin, co-owned by Hollywood actor Ryan Reynolds, as well as the rest of the Davos Brands portfolio.
The group said that the acquisition 'supports its participation' in the super-premium gin segment in the US, and is in line with the company's strategy to acquire 'high growth brands with attractive margins', which support its premiumisation ambitions.
“We are confident that Aviation American Gin will continue to shape and drive the growth of super premium gin in North America and we are looking forward to working with Ryan Reynolds and the Davos Brands team to accelerate future growth”, said Ivan Menezes, chief executive of Diageo.
Diageo announced in August that it was purchasing the Davos Brands portfolio, which as well as featuring Reynolds' Aviation gin brand, also features iichiko Sochu, Astral Tequila, Sombra Mezcal and TYKU Sake.
Reynolds will retain an ownership interest in Aviation American Gin following the completion of the deal.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.
