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George Clooney’s Tequila Company Sold for Up to $1B
- GrumpyNl 9y agoI calll bs. Last sold 120k cases, lets say he is doing well and made $50 a case profit, thats 6M profit. That number will never justify a takeover of one billion.
- deleted 9y ago[deleted]
- wand3r 9y agoI have no idea about the economics but if we're doing napkin math, maybe the bottles cost 30-35 and are cheap enough to produce that they have 33% profit margins. That's about $10 a bottle or $240 a case. 2016: 28.8m profit 2017: 38.4m profit (projected) Keep in mind tequila is a growth industry and there are likely assets involved including Goodwill, plant, bottling facility, machinery and real estate. Diageo knows this business better than anyone so I assume they thought it through. Also, having George Clooney involved in Diageo can help offset marketing costs as I would imagine contractual promotions are tied to the sale
- alunchbox 9y agoalso it's 700 mil + 300 mil over 10 years depending on how the product does.
- vr46 9y agoI would take this news with a pinch of salt.
- skinnymuch 9y agoIn what way? The number given isn't true? Or Clooney barely has a stake in it?
- RepressedEmu 9y agoI think its meant to be wordplay: salt + lime + tequila
- skinnymuch 9y agoAh. Hah totally missed that
- skinnymuch 9y agoNo one seems to know what percentage of the company the founders including Clooney had. Wonder what stake he held. With The Honest Company, Jessica Alba's stake is said to be around 15% last I remember.