George Clooney is about to get even richer.
The actor and new father
The British-based spirits company Diageo has agreed to pay $700 million for the company initially, CNBC reports, "with the potential for another $300 million based on the tequila's performance over 10 years." The deal is expected to close later this year.
Michael Meldman, Rande Gerber, and George Clooney exit a Casamigos-branded jet.
"If you asked us four years ago if we had a billion dollar company, I don't think we would have said yes," Clooney told CNBC in an e-mail. "This reflects Diageo's belief in our company and our belief in Diageo. But we're not going anywhere. We'll still be very much a part of Casamigos. Starting with a shot tonight. Maybe two."
Casamigos, which means "house of friends" in Spanish, began as a private label for Clooney and his friends Gerber, a nightlife industry veteran, and
"We are extremely excited to team up with one of the largest, most respected spirits companies in the world," Gerber said. "What started from a friendship and an idea to create the best-tasting, smoothest tequila as our own house tequila to drink and share with friends, has quickly turned into the fastest growing super-premium tequila."
Clooney, Gerber, and
This story originally appeared on Townandcountrymag.com.
* Minor edits have been made by the Townandcountry.ph editors.