On August 17, Diageo announced plans to acquire the gin brand Aviation American Gin and a number of alcoholic beverages sold by Davos Brands.
The total consideration for the acquisition is up to $610 million, with an initial payment of $335 million and a possible additional payment of $275 million based on Aviation Gin"s performance over the next 10 years. The deal is reportedly expected to close by the end of 2020.
In the fiscal year 2019-2020 just passed, Diageo offset the decline in the liquor Mizuno with the performance of its spirits segment. Will Diageo, which is expanding its spirits segment again, acquire more brands?