DiageoHollywood megastar George Clooney might be joyously counting his cash after Diageo agreed to buy his tequila company for up to $1 billion Wednesday but investors in the London-based alcoholic beverage giant aren’t exactly celebrating. In 2012, Beam forked out $600 million on the cheaper Pinnacle tequila, which was set to shift more than 3 million cases that year. But it’s not out of line for the American super premium and high-end premium tequila industry, which the Distilled Spirits Council (DISCUS) says has expanded by 706% and 292%, respectively, since 2002. DISCUS defines a premium tequila as one that costs between $10 and $17.78 for a one-liter bottle. A 750 ml high-end premium bottle costs between approximately $18 and $26 and super premium rings in above $26.

Source: Forbes June 22, 2017 20:03 UTC