Ryan Reynolds is the most recent public figure whose enterprise has been acquired in a significant way. Wednesday marked the completion of T-Mobile’s (TMUS) acquisition of Reynolds-backed Mint Mobile for $1.35 billion by the legacy network provider.
39% in cash and 61% in stock comprise the sale. Reynolds, who owns a minority interest in Mint Mobile, will remain the company’s public face in terms of marketing, according to David Glickman, co-founder of Mint Mobile. Also intending to “continue for years” with the service provider.
Reynolds said jokingly in a statement, “We are ecstatic that T-Mobile defeated an aggressive last-minute bid from my mother Tammy Reynolds, as we believe the superiority of their 5G network will provide a better strategic fit than my mother’s slightly above-average mahjong skills.”
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This is not the initial instance in which significant corporations have supported celebrity business ventures.
In the same manner, additional celebrities who owned substantial private enterprises, particularly in the cosmetics and alcohol sectors, have divested their ownership in larger corporations.
READ MORE: Ryan Reynolds Gets More Than $1 Billion for Selling His Wireless Business: “So Proud And Excited”
The following are examples of such buyouts:
Gin Reynolds and Aviation
Profits have been realized from the increase in celebrity alcohol enterprises that occurred during the pandemic years.
And the majority of celebrities continue to represent the company even after an acquisition.
Reynolds has emerged as a leading advocate for the luxury alcoholic beverage Aviation Gin, a brand that Diageo (DEO) acquired in 2020 for a substantial sum of $610 million.
Although “an ongoing ownership interest” was included in the agreement, Reynolds did not create Aviation Gin. In 2018, he assumed co-ownership of the company and has since advertised the gin on talk programs and in the superhero film “Deadpool.”
“I’ve tried every gin on the planet and Aviation is, hands down, the best,” Reynolds declared. “However, I do not advise sampling each and every gin in the world. Maintain your focus on this one.”
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