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With a price tag of up to $1.35 billion, T-Mobile has acquired Mint Mobile, Ryan Reynolds’ prepaid mobile company. The company and the Hollywood icon announced the news on Wednesday, March 15. Keep reading for more details.
T-Mobile Buys Ryan Reynolds’ Company
T-Mobile announced that it had struck an agreement to buy Ka’ena Corporation, the parent company of Ultra and Mint Mobile.
Plum, a wireless distributor, is also a part of the agreement. All may be purchased for up to $1.35 billion in a mix of 39% cash and 61% stock. The final acquisition price will depend on how well Mint performs in certain time frames both before and after the transaction.
Later this year, T-Mobile hopes to complete the transaction. Following the deal, Ryan Reynolds announced it in the most hilarious way. He went as far as teasing his mom several times.
“Mint Mobile is the best deal in wireless and today’s news only enhances our ability to deliver for our customers,” he said in the announcement.
Ryan continued by jokingly saying they were so happy that T-Mobile beat out their aggressive bid from his mom Tammy Reynolds.
He added that T-Mobile’s 5G excellence would provide a strategic fit over his mom’s slightly above-average mahjong skills.
Previous Deals
This will not be the first time Ryan Reynolds is putting his company up for sale.
The deal between T-Mobile and Ryan’s company was struck roughly two and half years ago after beverage corporation Diageo purchased Ryan’s spirit brand Aviation American Gin.
As part of the deal agreement, the Red Notice star retained his ownership interest in the gin company. The deal was reached for up to $610 million through the Davos Brands portfolio acquisition.
T-Mobile is not just buying Mint Mobile but its sales, marketing, digital, and service operations. Additionally, T-Mobile intends to support the brand’s expansion by utilizing its distribution reach and ties with suppliers.
Also, it will take advantage of the chance to provide more customers with competitive prices and a larger selection of devices.