Who Owns Casamigos

Tequila

Casamigos Tequila, founded by actor George Clooney, entrepreneur Rande Gerber and real estate developer Mike Meldman, is a high-end tequila brand first released in 2013 that quickly gained popularity thanks to social media. In 2017, liquor giant Diageo purchased the brand for $700 million, with an additional $300 million in potential incentives if the brand meets certain performance metrics.

Diageo is the second-largest spirits company in the world, behind French beverage powerhouse Pernod Ricard. Its portfolio of brands includes names such as Johnnie Walker, Smirnoff, Baileys, Guinness, Tanqueray and more. Diageo purchased Casamigos in order to expand its presence in the premium tequila market.

The funds generated from the sale of Casamigos were donated to charity, with a majority of the money going to benefit victims of Hurricane Maria in Puerto Rico. A smaller portion of the money went to non-profit organizations such as Waterkeeper Alliance and Not On Our Watch, both of which are environmental charities founded by Clooney.

Curiously enough, the three original founders of Casamigos still own a stake in the company. While Diageo is the majority owner, Clooney, Gerber and Meldman reportedly still own a “small piece” of the company, with Clooney himself saying that “the financial side was never really our goal”.

Casamigos has become an international success, with its product now available in 75 countries. Since being acquired by Diageo, annual sales of Casamigos tequila have gone from $3 million in 2016 to an estimated $300 million in 2020. The brand has become an iconic example of the powerhouses that strategic, creative marketing and celebrity partnerships can create.