GEORGE CLOONEY & RANDE GERBER SOLD THEIR TEQUILA BRAND FOR UP TO $1 BILLION in 2017 to Diageo.
While building their vacation homes in Mexico, they spent time there & drank a lot of tequila
After trying different tequilas, they decided to work with Mike Meldman to make a tequila they love
They found a distiller in Jalisco & explained what they wanted – Good taste, not burn. Smooth. People could drink straight or on the rocks, day & night with no hangover
2 years of trials & 700 samples, they found the one. Gerber says “George opened the sample, poured 1 for me & him, & we tasted it; This is it. It’s perfect”
Casamigos, meaning house of friends, was to be served only to friends & family
The distiller called & said there was a problem. In 2 years, they ordered 1000 bottles/year. Because the volume was too high a license was needed
The stars did not have a choice & brought Casamigos to the public in 2013. Gerber says “We wanted to keep drinking it”
A passion project turned into a successful business
Diageo initially paid $700M, with the potential for another $300M depending on performance.
Key to the Success – Focusing on the product inside the bottle — not the bottle or label itself, says Gerber -We have an inexpensive bottle, but the best quality tequila inside
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