Diageo buys up Clooney's tequila brand
Drinks giant Diageo has inked a $1bn deal (£790m) to buy a premium tequila brand co-founded by Hollywood actor George Clooney.
The owner of Guinness and Captain Morgan's rum said it planned to put US-based Casamigos through a global expansion to help strengthen its foothold in the tequila market.
Casamigos was founded four years ago by the star alongside Rande Gerber, husband of supermodel Cindy Crawford, and Mike Meldman.
It looks set to bolster the number of cases sold by 41% to 170,000 by the end of this year.
Ivan Menezes, chief executive of Diageo, said: "We are delighted to announce this transaction to extend our participation in the tequila category."