Diageo to purchase George Clooney's tequila company
The British alcoholic beverages giant Diageo has made a US $1 billion bid to purchase Casamigos, the luxury Mexican tequila producer cofounded by actor George Clooney in 2013.
The agreement is expected to be finalised in the second half of the year and will enable Diageo to strengthen its presence in a market that is expanding at annual rates of 5%.
Casamigos has grown at an average rate of 54% over the past two years. In 2016 it sold 120,000 cases of tequila and is on track to reach 170,000 by the end of the year.
Image credits: Casamigos
