Ryan Reynolds-backed Aviation American Gin to be bought by drinks giant Diageo

Guinness maker Diageo has agreed buy Aviation American Gin which is co-owned by Hollywood actor Ryan Reynolds, as part of a deal worth up to $610 million.

The FTSE 100 drinks firm will buy the brand through the acquisition of Aviation Gin LLC and Davos Brands LLC ('Davos Brands').

Aviation American Gin is a premium US gin which costs around £31-£35 per 700 ml bottle in the UK.

Diageo, which is also behind brands such as Gordon's and Baileys said Aviation American Gin has grown under the leadership of its majority owner, Davos Brands, and the creative direction of co-owner Reynolds, who will retain an ongoing ownership interest in Aviation American Gin.

Reynolds, who has starred in Deadpool and Green Lantern, said: "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. 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."