Drinks giant Diageo said it would pay the Deadpool actor a sweet $335m (£256m) upfront, according to The Financial Times - and depending on how well it sells over the next decade, he could yet pocket another $275m (£210m).
But he's not abandoning ship - Reynolds will retain an ownership interest in the gin, which he has had a stake in since February 2018.
The premium gin brand is the second-largest and one of the fastest growing in the super-premium gin market in the US.
Reynolds 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. I want to thank Diageo for their incredible team and passion. We're so excited for the next chapter of Aviation Gin, which, I promise, will require just as little reading."
Ivan Menezes, Chief Executive of Diageo, said "We are delighted to announce this transaction, which supports our participation in the super premium gin segment in the United States. The acquisition of Aviation American Gin and the Davos Brands portfolio is in line with our strategy to acquire high growth brands with attractive margins that support premiumisation.
"We are confident that Aviation American Gin will continue to shape and drive the growth of super premium gin in North America and we are looking forward to working with Ryan Reynolds and the Davos Brands team to accelerate future growth."
And the famous gin has some rather respectable fans, not least, Spider-Man actor Tom Holland, who has certainly gotten into it during the coronavirus pandemic.
Like many of us, Tom had found himself drinking a bit more than usual, and was about to have a break from it when a case of Aviation turned up at his house courtesy of Ryan Reynolds.
Speaking to Jimmy Kimmel back in April, he said: "I actually said this weekend that I was going to stop drinking for a week, I was going to have a week off. And then literally Monday morning, Ryan Reynolds sent me a case of gin.
"I was literally like, 'I'm not drinking for the whole week, not drinking at all,' and then the doorbell rang and there was a case of gin from the lovely Ryan."
Chosen for YouChosen for You
Most Read StoriesMost Read