Diageo to take controlling stake in Zacapa rum

09 June, 2011

Global drinks giant Diageo has reached an agreement with Industrias Licoreras de Guatemala to take a 50% controlling stake in the Guatemalan Zacapa rum brand.

In 2008 Diageo entered into a three year distribution agreement for Zacapa rum with the option to take an equity stake in Zacapa at the end of the term.

A statement from Diageo said: "We have now reached an agreement and, subject to the usual closing conditions, Diageo will take a 50% controlling stake in Zacapa.

"No details of the transaction are being released but we can confirm that it meets Diageo's investment criterion and is economic profit positive in year three."





Comment

Menezes upbeat

Despite some gloomy reactions among city analysts to Diageo’s full year results to June 2015, chief executive Ivan Menezes was very upbeat at his briefing to journalists and city analysts in a top London restaurant today (July 30).

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