Diageo Rules Out Sale of Guinness and Moet Hennessy Stake
Diageo has firmly denied recent speculation about selling its successful Guinness brand or its stake in LVMH's Moet Hennessy drinks division. The denial comes in response to a Bloomberg News report suggesting Diageo was exploring options for Guinness, which is reportedly valued at over $10 billion.
While Guinness stands out as a beer brand in Diageo's predominantly spirits-focused portfolio, it has shown remarkable performance with double-digit sales growth every year since 2021. This includes strong demand for its alcohol-free version.
The brand's success is particularly noteworthy given a recent slowdown in spirits sales following the post-pandemic premium liquor boom. Diageo plans to provide additional business updates during its interim results presentation on February 4.
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