In George Clooney Is Better Than You News: George Clooney Sells Tequila Company For $1 Billion

Not bad for a company he started on a whim

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George Clooney's tequila company has been snapped up by British alcohol company Diageo for as much as $1 billion.

Diageo will initially pay $700 million, and depending on the companies performance over the next 10 years there is the potential for a further $300 million.

Not bad for a company he started on a whim.

Clooney created Casamigos with his two friends, Rande Gerber and Michael Meldman. Fitting really as Casamigos roughly translates to "house of friends".

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It all began when they bought properties out in Mexico, and got so into drinking tequila they decided to make their own. You can imagine that 2am conversation, can't you?

They then spent the next 2 years sampling tequila in order to create the perfect tipple.

Initially it was just going to be for their consumption, but when it got to the point that they were ordering 1,000 bottles a year the distillery pointed out they would need to get the drink licensed.

So in 2013 it was made available to the public, although Clooney admitted he never imagined it would take off in this way.

Speaking to CNBC, he said: "If you asked us four years ago if we had a billion dollar company, I don't think we would have said yes."

Although the deal is set to close during the second half of 2017, Clooney and co will be still involved.

"We're not going anywhere," Clooney said. "We'll still be very much a part of Casamigos. Starting with a shot tonight. Maybe two."