Honigman Team Leads Davos Brands Deal with Largest Spirits Maker in the World
Honigman attorneys, led by Tracy Larsen, co-leader, M&A Practice, represented New York City-based Davos Brands LLC, in the sale of Aviation Gin and other brands including Astral Tequila, Sombra Mezcal and TYKU Sake to U.K.-based Diageo, the largest spirits company in the world.
Other attorneys involved in the transaction included:
- Rob Kiburz (corporate)
- Jeff Kuras (antitrust)
- Ilan Napchan (tax)
- Andrew Newton (corporate)
- Paul Wellington (corporate)
“I’m incredibly proud of our team, who once again proved themselves to be among the most sophisticated deal attorneys in the country.” Larsen said.
The transaction has an aggregate value of up to $610 million, part of which it is tied to an earnout. Aviation American Gin co-owner and actor Ryan Reynolds will retain an ongoing ownership interest in the brand.
"Tracy Larsen, Rob Kiburz and the entire Honigman team were simply incredible. They successfully navigated this complex deal balancing the interests of a wide variety of stakeholders,” Davos Brands Chief Executive Officer Andrew T. Chrisomalis said. “They were true partners throughout. Their calm demeanor and expert counsel - coupled with their incredible deal experience - resulted in a great transaction for Aviation Gin and Davos Brands, its parent company. Huge respect and admiration for this deal team from the entire Davos team.”
The deal was signed late Saturday, August 15, and was announced before market open in London on Monday, August 17.