Food & Drink

Gables company gulps down George Clooney’s tequila brand

Jordan Strauss/Invision/AP

George Clooney is going to be able to sock away a little more money for his newborn twins.

Diageo, which has a major office in Coral Gables, is shelling out up to $1 billion to buy the tequila brand Clooney founded with pals nightlife guru Rande Gerber and real estate tycoon Mike Meldman. The three founded Casamigos four years ago and held launch parties all over the U.S., including one at the Fontainebleau.

Clooney and Gerber, aka Cindy Crawford’s husband, named the booze after the compound they own in Mexico, where they’ve been known to throw down a few shots.

Diageo reportedly will pay $700 million for Casamigos up front, then likely another $300 million over a 10 year period if it “reaches certain performance milestones,” according to the AP.

Maddy Marr