The biggest spirits stories of 2020

14th January, 2021 by Nicola Carruthers

Diageo flies in for Aviation

Ryan-Reynolds-Aviation-Gin

Drinks giant Diageo is betting big on a celebrity‐backed gin, after the firm bought Aviation Gin owner Davos Brands in a deal worth up to US$610 million. Aviation Gin, which is co‐owned by actor Ryan Reynolds, is the second‐largest and one of the fastest‐growing brands in the US  super‐premium gin category.

Ivan Menezes, chief executive of Diageo, said: “The acquisition of Aviation American Gin and the Davos Brands portfolio is in line with our strategy to acquire high‐growth brands with attractive margins that support premiumisation. 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.”

Diageo also acquired other brands in Davos Brands’ portfolio, including Astral Tequila and Sombra Mezcal. The deal was announced in August and was completed on 30 September.

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