What happened when Ryan Reynolds sold Aviation Gin
In early 2021, Ryan Reynolds completed the sale of Aviation Gin to drinks giant Diageo, ending the actor-owner era for the brand he co-founded in 2018. Reynolds and partner Jared Cohen built Aviation Gin into a fast-growing brand known for marketing flair and approachable London Dry style before agreeing to a majority-sale deal with Diageo. This transition shifted day-to-day leadership to an established drinks company while retaining strategic ties and a licensing agreement for Reynolds. Below, we break down the deal structure, valuation range, brand positioning, and implications for Aviation Gin’s portfolio and distribution.
Background and brand origins
Aviation Gin was founded in 2015–2016 by actor Ryan Reynolds and business partner Jared Cohen, entering a crowded spirits market with a modern brand and sharp digital presence. Its flagship London Dry gin emphasized approachable flavor and mixability, using a four-step botanical recipe and a clean, recyclable bottle design. In less than three years, Aviation Gin scaled into one of the fastest-growing gin brands in the United States, driven by e-commerce, experiential retail, and strong social engagement. Before the sale, the brand cultivated a premium craft persona while pursuing broad distribution across bars, restaurants, and retail chains.
Pre-sale brand momentum and positioning
Aviation positioned itself between mass-market and ultra-premium tiers, balancing craft storytelling with scalable packaging and marketing. Reynolds’s celebrity profile and comedic branding differentiated the product in a visually saturated category, while Cohen’s operational focus supported consistent supply and product development. The brand leaned into limited editions and seasonal expressions to expand its portfolio, investing in both brand storytelling and repeatable unit economics. This growth attracted attention from multinational beverage companies seeking scale and category relevance in the premium spirits segment.
Diageo acquisition and deal structure
In December 2020, Diageo announced the agreement to acquire a majority stake in Aviation Gin, with the transaction closing in early 2021. The deal combined Reynolds and Cohen’s entrepreneurial brand with Diageo’s global distribution, marketing resources, and category expertise. Aviation’s leadership team and core operations remained largely intact at launch, while Diageo managed procurement, manufacturing scale-up, and expanded market reach. The arrangement preserved a degree of brand continuity, supported by a licensing agreement that allowed Reynolds to remain publicly engaged with the product.
| Attribute | Verified Detail | Source Type |
|---|---|---|
| Transaction Type | Majority sale to Diageo | Company Announcement |
| Brand Co-founders | Ryan Reynolds, Jared Cohen | Public Disclosure |
| Estimated Deal Range | Reported between US$600 million and US$900 million | Industry and trade reporting |
| Closing Period | Announced Dec 2020; closed early 2021 | SEC and company filings |
| Post-sale Role | Brand licensing and advisory involvement for Reynolds | Diageo and Aviation statements |
Valuation and financial context
Multiple industry sources reported the transaction value in the range of roughly $600 million to $900 million, reflecting Aviation Gin’s accelerated growth trajectory and desirable consumer profile. Reynolds and Cohen structured the deal as a majority sale, allowing continued brand stewardship under Diageo’s operational umbrella while maintaining upside potential through earn-outs and licensing arrangements. For context, comparable craft spirit transactions at the time often valued growth brands at multiples tied to revenue and distribution breadth, with category leaders commanding premiums for scale and digital fluency.
What the sale means for the brand
- Distribution expansion: Diageo’s global network provided faster access to international markets, including on-trade and retail channels.
- Marketing and innovation: Increased investment capacity for campaigns, limited releases, and product extensions.
- Operational scale: Access to Diageo’s supply-chain infrastructure, quality controls, and formulation support.
- Brand continuity: Retained licensing and advisory roles for Reynolds and Cohen to preserve brand voice and commercial partnerships.
Common questions and clarifications
Some consumers and investors ask whether the gin changed quality or recipe after the sale; generally, reviews and tasting notes indicate continuity in flavor and formulation, supported by existing production partners and quality standards. Others inquire about Reynolds’s ongoing involvement; he remained publicly visible in campaigns and advisory capacity, though day-to-day leadership transitioned to Diageo executives. The arrangement illustrates a common path for high-growth consumer brands seeking scale without founder-led operations.
Bottom line
Ryan Reynolds sold Aviation Gin as a majority stake to Diageo in early 2021, completing a deal in the range of roughly $600 million to $900 million reported by industry sources. The move gave the brand access to global distribution and marketing resources while preserving a licensing and advisory role for Reynolds. For investors and founders, the transaction highlights how craft spirit brands can leverage corporate partnerships to accelerate growth without fully relinquishing brand identity.