He recently sold his Aviation Gin brand and other liquors from Davos Brands LLC to Diageo Plc for $610 million.
But Ryan Reynolds celebrated the massive sale by composing a hilarious out-of-office email apologizing to his wife and others for telling them ‘to go f**k themselves.’
The 43-year-old Deadpool star joked that he hadn’t understood what an ‘earn-out’ was after he made the sale and offered up apologies to numerous people, including George Clooney, Dwayne ‘The Rock’ Johnson and Betty White.
Oops! Ryan Reynolds, 43, sent a hilarious out-of-office email with apologies for numerous people after the sale of his Aviation Gin brand for $610 million to Diageo; pictured in April 2019
‘Thanks for your email. I am currently out of the office but will still be very hard at work selling Aviation Gin. For quite a long time, it seems,’ Reynolds opened his email.
‘In related news, I just learned what an ‘earn out’ is… And I’d like to take this opportunity to apologize to everyone I told to go f**k themselves in the last 24 hours.
‘My lawyers just explained how long it takes to achieve an ‘earn out’… so… turns out I’m not as George Clooney as I thought,’ he continued, referring to Clooney’s tequila brand Casamigos, which was also sold Diageo for an astounding $1 billion in 2017.
An earn-out refers to the pricing structure of some acquisitions. In this case, Ryan and investors in Aviation Gin and its parent company Davos Brand LLC will only get $335 million of the initial sale, but up to an additional $275 million will be paid out if the brand performs well enough over a 10-year period.
‘Thanks for your email. I am currently out of the office but will still be very hard at work selling Aviation Gin. For quite a long time, it seems,’ Reynolds opened his email
Delayed payout: He joked that he just learned what an ‘earn-out’ is, referring to how Diageo only pays part of the money up front and requires Aviation to perform well over the next decade before paying the rest
Clooney and his Casamigos co-founders Rande Gerber and Mike Meldman, who founded the brand in 2013, had a similar pricing structure, though their initial compensation was much more generous for the high-performing tequila.
Diageo initially paid out $700 million, more than the entire amount it might pay for Davos, and the three founders could get up to $300 million more if sales are high enough through 2017.
‘The point is, to those listed below, I’m sorry… and I’ll indeed be needing your help in the coming months and years. Thanks in advance!’ Reynolds joked, before finishing with a list of wronged parties: ‘Mom, Blake, Peter, Diageo CEO, The Rock, George Clooney, Southern Glazer’s, Betty White, TGI Friday’s, Baxter, Calisthenics, AMC Theaters, Total Wine, The Number 8, Don Saladino, Darden, The Head of Alfredo Garcia, Soothing Lavender Eye Pillows.’
Though he’ll still have to advertise his gin if he wants to get the bulk of the remaining payment, the actor has other financial incentives to stay involved, as Bloomberg reported he still has stock in Davos.
In addition to starring in ads, the Detective Pikachu star regularly advertises Aviation Gin on his social media accounts, sometimes inserting the liquor into scenes from his own movies.
Sorry! The list of people he apologized to included his wife Blake Lively, his mother, Dwayne Johnson, Betty White and George Clooney, who sold his tequila brand for $1 billion; shown in 2016
Reynolds weighed in on Monday’s sale in a statement shortly after it was announced.
‘A little over two years ago, I became an owner of Aviation Gin because I love the taste of Aviation more than any other spirit,’ he said in a rare serious moment. ‘What I didn’t expect was the sheer creative joy learning a new industry would bring. Growing the brand with my company, Maximum Effort Marketing, has been among the most fulfilling projects I’ve ever been involved with.
‘I want to thank Diageo for their incredible team and passion. We’re so excited for the next chapter of Aviation Gin, which, I promise, will require just as little reading,’ he concluded.
Having a laugh: Reynolds regularly advertises Aviation Gin on social media, sometimes even inserted in his movie clips