Founding and Original Ownership of Casamigos Tequila
Casamigos was co-founded in 2013 by George Clooney, Rande Gerber, and Mike Meldman as a premium ultra-premium tequila brand focused on smooth, mixable reposado and blanco expressions. The original ownership was split among the three founders through Casamigos LLC, with the brand quickly gaining visibility through celebrity endorsements and a direct-to-consumer launch strategy that bypassed traditional spirits distributors in key U.S. markets read more.
The founders structured the company as a private limited liability company with shared equity, and early reports indicated that each partner held a roughly equal stake in the venture, though precise percentage splits were never publicly disclosed in filings or interviews. The brand's rapid growth in the ultra-premium segment and its cult following among celebrities and influencers made it an attractive acquisition target within a few years of launch.
The 2017 Acquisition by Diageo and Deal Structure
Acquisition Terms and Purchase Price
In June 2017, global spirits conglomerate Diageo announced the acquisition of Casamigos Tequila for up to $1 billion, with an upfront payment of $700 million and performance-based earnouts tied to hitting specific revenue and margin targets over a multi-year period. The deal was structured as an asset purchase rather than a stock transaction, meaning Diageo acquired the Casamigos brand portfolio, trademarks, and key operating assets, while the original founders received the majority of the proceeds and exited their ownership roles read more.
Following the acquisition, the original Casamigos LLC entity was effectively dissolved as a going concern, and the brand was integrated into Diageo's premium spirits portfolio, which also includes names like Don Julio, Patrón, and Tanqueray. George Clooney, Rande Gerber, and Mike Meldman no longer held ownership stakes in the brand after the transaction closed, and Diageo assumed full control over production, distribution, and global marketing strategy.
Current Ownership and Corporate Structure
Diageo as the Sole Owner
Today, Diageo plc, a publicly traded company headquartered in London and listed on the London Stock Exchange and New York Stock Exchange, is the sole owner of the Casamigos Tequila brand worldwide. The brand operates under Diageo's spirits division, which manages a portfolio of over 200 brands across whisky, rum, gin, vodka, and tequila categories, with Casamigos positioned in the ultra-premium tequila segment alongside brands like Don Julio and Clase Azul read more.
Diageo's ownership of Casamigos is reflected in its consolidated financial statements, where the brand's revenues and operating results are folded into the company's North America and International spirits segments. The company's annual reports and investor presentations do not break out Casamigos as a standalone line item, but the brand is considered a material contributor to Diageo's ultra-premium tequila growth strategy in the United States and key export markets