You’ve probably seen the matte-labeled bottles sitting on the top shelf of every bar from Manhattan to Malibu. It’s the "house of friends." It’s the drink that launched a thousand other celebrity liquor brands. But when people ask about who owned Casamigos tequila, they’re usually looking for more than just a name. They want to know how a casual vacation project turned into a $1 billion payday that fundamentally changed how Hollywood does business.
Honestly, the story is kinda ridiculous.
It wasn’t born in a boardroom. There were no focus groups or market research reports. Instead, it started with two guys—George Clooney and Rande Gerber—building adjacent vacation homes in Cabo San Lucas, Mexico. They spent their nights drinking tequila, as one does in Cabo, but they kept running into the same problem: the burn. They wanted something they could sip all day without feeling like they’d swallowed a blowtorch.
So, they decided to make their own.
The Three Men Who Built the House of Friends
Before the giant corporations got involved, who owned Casamigos tequila was a tight-knit trio of guys who were already incredibly successful in their own right.
- George Clooney: You know him. The Oscar winner. The guy who was once the face of Nespresso. He wasn't looking for a side hustle, but he had the palate and the global "cool factor" that money can't buy.
- Rande Gerber: This is the guy who actually understood the industry. A former model and a nightlife mogul, Gerber founded the Gerber Group, which operated high-end bars and lounges across the globe. He knew what people wanted to drink when they were out having a good time.
- Mike Meldman: The "quiet" third partner. Meldman is a real estate titan and the founder of Discovery Land Company. He’s the one who developed the compound in Mexico where Clooney and Gerber built their homes. He brought the connections and the luxury lifestyle expertise to the table.
For about two years, this trio worked with a master distiller in Jalisco. They did blind taste tests. They went through something like 700 different samples. The goal was simple: a tequila so smooth you didn't need salt or lime to mask the taste.
The "Accidental" Business Model
Here is the part most people get wrong. They think Casamigos was a calculated cash grab.
It wasn't.
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For the first few years, the brand didn't even have a public-facing name. It was just the "house tequila" for their properties. They were ordering about 1,000 bottles a year from the distillery just to give away to friends and family. Eventually, the distillery in Mexico called them up with a bit of a problem. They basically said, "Look, you guys are either selling this stuff or you’re drinking way too much of it. Either way, you need to get a license and get legal."
That was the turning point. In 2013, Casamigos officially launched to the public. The name literally translates to "House of Friends," a nod to the Cabo compound where it all began.
The Day Everything Changed: The $1 Billion Sale
By 2017, Casamigos was no longer a hobby. It was a rocket ship. It was the fastest-growing super-premium tequila brand in the United States.
That’s when Diageo stepped in.
If you aren't familiar with the name, Diageo is the massive British multinational that owns everything from Johnnie Walker and Tanqueray to Guinness and Don Julio. They saw what Clooney and his friends had built—a brand that didn't just sell tequila, but sold a lifestyle—and they wanted in.
The deal they struck was staggering.
Diageo agreed to pay $700 million upfront. But that wasn't all. There was a "performance-linked earn-out" worth another $300 million over the next ten years. In total, the deal valued Casamigos at $1 billion.
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At the time, the math seemed crazy to some industry insiders. People were literally calculating the price per bottle based on their current sales and wondering if Diageo had lost their minds. But looking back from 2026, it’s clear Diageo knew exactly what they were doing. They weren't just buying a recipe; they were buying the most effective marketing engine in the spirits world.
Who Owns Casamigos Tequila Now?
Since the sale was finalized in late 2017, the legal owner of Casamigos is Diageo.
However, the "ownership" feel hasn't entirely disappeared. When the deal was signed, Clooney, Gerber, and Meldman didn't just take the check and disappear into the sunset. They stayed on. They maintained "continued involvement and active participation" in the brand.
You still see Rande Gerber's influence in the marketing. You still see the same "made by friends for friends" aesthetic. Even though a massive corporate entity pulls the strings and handles the global distribution, the founders are still the faces of the product. They’ve managed to keep that small-batch, personal feel even as the brand produces millions of cases a year.
Why the Sale Mattered So Much
The Casamigos deal was the "Big Bang" for celebrity spirits.
Before 2017, celebrity booze was often seen as a gimmick—something you’d find in the clearance bin after the fame faded. But after Clooney banked hundreds of millions, every A-lister in Hollywood started looking for their own "Cabo moment."
- Ryan Reynolds followed with Aviation Gin.
- The Rock launched Teremana.
- Kendall Jenner brought us 818.
None of those brands would likely exist, or at least not in the same way, without the blueprint laid down by the original Casamigos owners. They proved that if you actually make a high-quality product and pair it with genuine, non-scripted marketing, the exit can be legendary.
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Practical Takeaways from the Casamigos Story
If you’re looking at this from a business or investment perspective, there are a few things you can actually use.
First, authenticity beats a pitch deck every time. Casamigos succeeded because it was a product the founders actually used and loved before they ever tried to sell it. That comes through in the branding.
Second, understand your "why." Clooney and Gerber weren't trying to disrupt an industry; they were trying to solve a personal problem (harsh tequila). Solving a real problem, even a small one, is usually a better path to profit than chasing a trend.
Finally, if you're a consumer, know that while the ownership has changed, the production process (NOM 1609) has largely remained consistent. They still use 100% Blue Weber agaves from the Highlands of Jalisco, and they still slow-roast them in traditional brick ovens.
The next time you’re pouring a glass of the Reposado, you aren't just drinking George Clooney's tequila. You're drinking a piece of business history that turned a couple of vacation homes into a billion-dollar empire.
To stay updated on how the brand continues to evolve under Diageo's global umbrella, you can track their annual earnings reports or follow the founders' current ventures in the luxury hospitality space.