The news broke today that Ryan Reynolds sold his American Aviation Gin brand to Diageo for up to $610 million. “Up to” being the key phrase there. Reynolds explains that he may have gotten a little ahead of himself according to a joking out of office email response from his Aviation Gin email address. According to the automated response, Reynolds misunderstood his deal’s conditions and may have burned a few bridges a little too early. “Thanks for your email. I am currently out of the office but will still be very hard at work selling Aviation Gin. For quite a long time, it seems,” the email begins.
It continues, “In related news, I just learned what an ‘earn out’ is… And I’d like to take this opportunity to apologize to everyone I told to go f*** themselves in the last 24 hours. My lawyers just explained how long it takes to achieve an ‘earn out’… so… turns out I’m not as George Clooney as I thought. The point is, to those listed below, I’m sorry… and I’ll indeed be needing your help in the coming months and years. Thanks in advance!”
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The list of folks he’s apologizing to includes:
- Mom
- Blake
- Peter
- Diageo CEO
- The Rock
- George Clooney
- Southern Glazer’s
- Betty White
- TGI Friday’s
- Baxter
- Calisthenics
- AMC Theaters
- Total Wine
- The Number 8
- Don Saladino
- Darden
- The Head of Alfredo Garcia
- Soothing Lavender Eye Pillows
Reynolds said in the press release announcing the sale, “A little over two years ago, I became an owner of Aviation Gin because I love the taste of Aviation more than any other spirit. What I didn’t expect was the sheer creative joy learning a new industry would bring. Growing the brand with my company, Maximum Effort Marketing, has been among the most fulfilling projects I’ve ever been involved with. I want to thank Diageo for their incredible team and passion. We’re so excited for the next chapter of Aviation Gin, which, I promise, will require just as little reading.”
Ivan Menezes, Chief Executive of Diageo, said “We are delighted to announce this transaction, which supports our participation in the super premium gin segment in the United States. 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.”
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