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George Clooney and Partners to make over $700 million for selling tequila company “started by ACCIDENT” for $1 BILLION

George Clooney and business partners Rande Gerber- husband to Cindy Crawford and real estate developer Michael Meldman are set to all smile to the bank, profiting a minimum of $233 million each from the sale of their tequila company to a British distiller, Diageo PLC.

The premium tequila brand, Casamigos which in English means as ‘house of friends,’ was launched four years ago (2013) by Clooney and Gerber by accident as a passion project while on vacation in Mexico.

Gerber, husband of Model, Cindy Crawford said the company was founded by ‘accident’ after he and Clooney became interested in tequila while vacationing in Mexico.

The three partners reportedly have equal stakes in the company with no outside investments and Diageo PLC will pay a further $300 million depending on the brand’s performance over the next decade and have said that Clooney and the other founders will continue to promote Casamigos and have a say in its future.

The deal is expected to be closed in the second half of the year. In 2016, the company sold 120,000 cases of the super-premium tequila and since then, it has won numerous accolades for superior taste and smoothness of texture, and sales have climbed fast.
In a statement, George Clooney said “If you asked us four years ago if we had a $1 billion company, I don’t think we would have said yes. This reflects Diageo’s belief in our company and our belief in Diageo.”

London-based Diageo’s other brands include Johnnie Walker, Guinness, and Captain Morgan.

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