The company, called Aviation American Gin, is the latest celebrity-backed alcohol brand to be snapped up by Diageo, the world's largest spirits company. Diageo also bought George Clooney's tequila brand, Casamigos, in 2017 for $700 million, with up to an additional $300 million based on performance over a decade.
Diageo's existing gin brands -- which include Tanqueray, Gordon's and Gilbey's -- account for 5% of the company's global net sales and declined by 4% during the year.
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