Diageo, the leading alcoholic drinks firm, has announced the acquisition of premium gin brand Aviation American Gin, and its owner, Davos Brands for US$610 million.
The acquisition will allow Diageo to add to its portfolio all the brands from Davos such as Astral Tequila, Sombra Mezcal, and TYKU Sake.
According to sources, this acquisition supports the participation of Diageo in the “super premium gin sector in the United States” following its strategy to “acquire high growth brands with attractive margins that support premiumisation”.
Ivan Menezes, CEO of Diageo, said: “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”.
Sources: Diageo PR