George Clooney’s partner Rande Gerber says everyone ‘kind of shocked’ by tequila company’s $1 billion sale
British company Diageo announced the purchase earlier today.
— -- George Clooney won't have to worry about a college fund for his newborn twins.
The Oscar winner just sold his tequila business with partners Rande Gerber and Michael Meldman to British company Diageo for $1 billion, ABC News has confirmed.
"If you asked us four years ago if we had a billion-dollar company, I don’t think we would have said yes," Clooney said in a statement Wednesday. "This reflects Diageo’s belief in our company and our belief in Diageo."
Gerber described himself, Clooney and Meldman as "kind of shocked" by the sale.
"I guess we were kind of shocked because never planned on starting a tequila company. We made Casamigos just for us to drink," Gerber said today on "Good Morning America" by phone from Mexico. "Four years later when, you know, we’re offered a billion dollars to sell the company, yeah, we were kind of shocked."
CNBC first reported on the deal, in which Diageo will pay an initial $700 million, with the potential for another $300 million over 10 years based on the tequila's performance.
Diageo was lauding the deal on Twitter.
Clooney made it clear that although he and his partners sold the company, they will still be involved, saying in his statement, "We’ll still be very much a part of Casamigos."
Gerber, who is married to supermodel Cindy Crawford, echoed Clooney's statement and described the Casamigos brand as "a lifestyle" for its founders.
"I think the most important thing for us though was we really love what we do and we love what we made and want to keep drinking it and keep the team together," he said. "Fortunately we get to keep our team together and we’ll continue to run the company and stay involved."
The three friends started the company, which translates to "house of friends," as a private collection of tequilas meant just for their friends and family. But in 2013, they took the company public.
"It is pretty shocking what we created in four years," Gerber said on "GMA," adding they will "definitely not" change any of their tequila recipes.
After the sale, Clooney was lauded for his good fortune.
Actor and director Albert Brooks joked on Twitter that "it's great when someone like that can catch a break."