Diageo sells 19 brands to Sazerac for $550 million
Beverage industry master company Diageo is selling 19 of its brands to US based company Sazerac in $550 million deal. Reasoning for this is said to be that Diageo is increasing its focus on premium spirits.
This transaction is expected to take place in early 2019 and will net Diageo over $436 million after taxes and other costs.
Some of the brands that will be included in the sale are Meyer’s Rum, Romana Sambuca, Seagram’s VO, Seagram’s 83, and Seagram’s Five Star, Parrot Bay rum, Popov Vodka, Yukon Jack, Goldschläger, Stirrings mixer, Scoresby blended Scotch, Black Haus, Peligroso Tequila, Relska Vodka, Piehole whiskey, Booth’s gin and John Begg blended Scotch.
Ivan Menezes, chief executive of Diageo, said: “Diageo has a clear strategy to deliver consistent efficient growth and value creation for our shareholders.”
“This includes a disciplined approach to allocating resources and capital to ensure we maximize returns over time.”
“Today’s announcement is another example of this strategy in action. The disposal of these brands enables us to have even greater focus on the faster growing premium and above brands in the US spirits portfolio.”
Jake Wenz, Sazerac’s chief operating officer, added: “We are delighted to acquire these iconic brands from Diageo and are looking forward to working closely with our wholesalers and customers to provide the focus to maximize the full global potential of the brands.”
Interested in getting in on the exciting and lucrative world of creating your own wine, spirit or alcoholic beverage brand? Then you are in the right place. Premier Wine & Spirits is a one stop shop wine & spirits development agency that can create your brand for you. Start to finish.
If internationally awarded wine and spirits are something that you are interested in pursuing, contact Premier Wine & Spirits for a free consultation today. We have the knowledge, resources and passion to make your vision a reality. And we have an award winning palate.
Email Premier’s Vice President Frank Bachurski at Frank@PremierInnovationsGroup.com or Officers@PremierInnovationsGroup.com
Premier Wine & Spirits is a multi-faceted alcoholic beverage umbrella corporation that creates, develops and imports a wide range of alcoholic beverage brands. Premier has a global network conducive to beverage product distribution, alcoholic beverage formulation, full packaging sourcing from start to finish, brand development and all importing/exporting logistics and TTB services. Premier owns their own brands, but also provides these services to other companies that have or wish to develop brands, private label or want to improve their current price structure and brand packaging.
Leave a ReplyWant to join the discussion?
Feel free to contribute!