George Clooney's Casamigos Bought In Billion Dollar Deal

The world's biggest spirits maker picks up George Clooney's tequila brand Casamigos
Publish date:

George Clooney's tequila brand Casamigos has been bought in a $1 billion deal by the world's largest spirit maker Diageo (DEO) - Get Report

Diageo will pay $700 million initially with a further $300 million depending on the brand's performance.

Casamigos was founded by Clooney and two of his friends in 2013. The three founders of the brand will continue to promote the brand.

Diageo's other tequila brands include Don Julio, DeLeon and Peligroso.

Watch More with TheStreet:

This article was written by a staff member of TheStreet.