Diageo buys Ryan Reynolds' Aviation American Gin | UK Market Update

Diageo has agreed to buy a gin brand co-owned by the Hollywood actor Ryan Reynolds in a deal worth up to $610m (£466m). The FTSE 100 company, which owns Smirnoff vodka and Johnnie Walker whisky, will buy Aviation American Gin and its parent company Davos Brands. Reynolds, the star of the Deadpool films, bought a stake in Aviation gin in February 2018 and will retain an interest in the business. Diageo said Aviation was the second largest brand in the super-premium gin segment in the US and one of the fastest growing brands in the category. Aviation’s sales increased by more than 100%in 2019 as demand for premium gin soared in North America.

In a bid to slash its plastic waste even further, Morrisons is entirely get rid of its Bag for Life, substituting it with a more environmentally friendly solution. The strong plastic carrier bag was launched to urge people to reuse the same bag again and again, with customers offered a replacement for free once the bag wore out. The major supermarket ditched 5p single use plastics bags in 2018, and the cost of a bag for life was increased from 20p to 30p last year. Morrisons is running a trial offering only paper bags. If the trial is successful, launching paper bags just across all its 494 stores would save 90 million plastic bags being used every year.

Ryanair has said it will cut capacity by 20% in September and October after "markedly reduced" bookings in recent periods. The airline said the drop was driven by "uncertainty over recent Covid case rates in some EU countries". It said cuts will mostly be in flight numbers as opposed to route closures. Ryanair said they will be "heavily focused" on countries where virus rates have led to the UK and Ireland re-imposing travel restrictions. The UK has re-imposed 14-day quarantines on travellers coming from countries including Spain, France and Sweden.

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