Diageo Says No Plans to Sell Guinness or Share in Moet Hennessy
LONDON, Feb 24 (Reuters) – Diageo, the world’s largest spirits company, said on Wednesday it has no plans to sell its iconic Guinness stout brand or its stake in luxury goods company Moet Hennessy.
The company, which owns a range of spirits including Johnnie Walker whiskey and Smirnoff vodka, said it remains committed to its core brands and sees significant growth opportunities for them in the future.
"We have no intention of selling Guinness or our shareholding in Moet Hennessy," a Diageo spokesperson said in a statement. "We believe these brands are fundamental to our portfolio and offer significant opportunities for growth and expansion."
Diageo acquired Moet Hennessy, which owns brands such as Moet & Chandon champagne and Hennessy cognac, in 1987. The company has since expanded its luxury goods portfolio through strategic acquisitions and partnerships.
Guinness, which was founded in Ireland in 1759, is one of the world’s most recognizable and beloved beer brands. Diageo has invested heavily in the brand in recent years, introducing new products and expanding its global distribution network.
The company’s decision to retain its ownership of Guinness and Moet Hennessy comes amid a period of significant change in the global drinks industry. Large beverage companies are increasingly focused on building their presence in the growing premium and luxury segments, and Diageo is no exception.
In addition to its core spirits and beer brands, Diageo has also been expanding its presence in the wine and champagne market through its Moet Hennessy subsidiary. The company has also made significant investments in emerging markets, such as China and India, where demand for premium and luxury drinks is growing rapidly.
"We believe our portfolio of brands, including Guinness and Moet Hennessy, provides us with a strong platform for growth and expansion in the years ahead," the Diageo spokesperson said.
