Ryan Reynolds Aviation Gin Sold to Diageo
Ryan Reynolds sold Aviation Gin to Diageo in a deal completed in 2020, with the brand now operating under Diageo’s portfolio of premium spirits. The transaction included the Aviation Gin trademark, production facilities, and global distribution rights, with Diageo paying a reported $610 million for the brand and related assets. Reynolds, through his investment firm Maximum Effort, retained a creative and marketing role, continuing to star in the brand’s campaigns and shape its public persona. The sale is part of a broader trend where celebrity-backed spirits brands attract large acquisitions from major beverage conglomerates.
Aviation Gin, originally launched in 2006 by aviation enthusiast and spirits producer Christian Krogstad, gained mainstream attention after Reynolds acquired a majority stake in 2018. The brand’s signature dry gin recipe and minimalist bottle design helped it climb to the top tier of the U.S. craft gin market within a few years. Reynolds’ involvement, including the widely shared “Aviation Gin” commercials and social media presence, significantly boosted the brand’s visibility. The sale to Diageo marked the end of Reynolds’ ownership phase, though the brand remains closely associated with his public image.
Deal Structure, Valuation, and Financial Terms
The Aviation Gin acquisition by Diageo was structured as a cash purchase, with the $610 million headline price covering the brand, intellectual property, and production operations. The deal included earn-out provisions tied to future performance, meaning a portion of the payment depended on Aviation Gin meeting specific revenue and growth targets over a set period. Financial analysts noted that the valuation reflected Aviation Gin’s rapid growth trajectory and its strong positioning in the premium gin segment. The transaction also included the transfer of existing contracts, distribution agreements, and the brand’s pipeline of new product releases.
Diageo’s acquisition of Aviation Gin is part of a wider strategy to strengthen its portfolio with high-growth craft and premium brands. The deal added a modern, digitally native spirit brand to Diageo’s lineup, which already includes Johnnie Walker, Tanqueray, and Hendrick’s. For Reynolds, the sale provided liquidity while allowing him to maintain a visible role in the brand’s marketing and cultural positioning. The financial terms were not fully disclosed, but industry estimates placed the enterprise value of Aviation Gin at the time of the deal in the range of $600 million to $650 million.
Brand Impact, Distribution, and Market Position
Since the sale, Aviation Gin has continued to expand its distribution under Diageo’s global network, reaching new markets in Europe, Asia, and Latin America. The brand’s U.S. retail presence grew through partnerships with major retailers, bars, and restaurants, supported by Diageo’s existing supply chain and logistics infrastructure. Marketing campaigns featuring Ryan Reynolds remained a central part of the brand’s strategy, maintaining the humorous and self-aware tone that helped Aviation Gin stand out in a crowded spirits market. The brand’s ranking among premium gins in the United States improved, with Aviation Gin frequently appearing in the top tier of craft gin sales lists.
Aviation Gin’s product line expanded after the acquisition, with Diageo approving new expressions and limited-edition releases that leverage the brand’s aviation theme. The brand’s flagship dry gin remains the core product, but Aviation Gin has introduced flavored variants and cocktail-focused formats to capture additional consumer segments. The sale also led to increased investment in the brand’s digital presence, with social media content and influencer collaborations managed under Diageo’s marketing teams. For consumers, the acquisition meant broader availability and consistent product quality, while the brand’s identity as a witty, celebrity-linked craft gin remained intact.