CNBC reports that Diageo will initially pay Clooney, Gerber and Meldman $700 million with the potential for another $300 million that will be based on the tequila’s performance over the next 10 years.
“We created Casamigos Tequila 4 years ago for us to drink personally, and selling it for 1 billion dollars is something we never could have imagined,” Gerber added in his own statement. “We remain committed to our brand and look forward to our future with Diageo and continuing our work with our dedicated and passionate Casamigos team.”
Not sure in what capacity they’ll remain with the Casamigos brand, which was named because it roughly translates to “house of friends.” Maybe they’ll just have to wear Casamigos T-shirts on a weekly basis? Perhaps Gerber’s kids can model them? Or maybe Clooney can get baby onesies made with the logo on it. Genius!
PS. I didn’t know Gerber was married to Cindy Crawford.