Diageo plans £8bn sale of Guinness amid rising demand
Diageo plans £8bn sale of Guinness amid rising demand

Diageo plans £8bn sale of Guinness amid rising demand

News summary

Diageo is reportedly considering spinning off or selling its iconic Guinness brand, which could be valued at over £8 billion ($10 billion), in response to a surge in demand that has notably attracted younger drinkers. The speculation comes after the company experienced shortages of Guinness during the Christmas season, leading to an increase in its share price by more than 4%. Under the leadership of CEO Debra Crew, Diageo is also exploring the sale of other underperforming brands like Ciroc vodka as part of a broader portfolio review. If Diageo proceeds with a sale, it may have to navigate its obligations concerning its stake in LVMH's Moët Hennessy, which could complicate the process. The rising costs in the hospitality industry and changing consumer preferences are influencing these strategic considerations, as the company seeks to revitalize its growth prospects amidst economic pressures. Overall, Diageo's plans reflect a significant shift in how the company is managing its brand portfolio to adapt to the evolving market landscape.

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