date:Nov 13, 2018
UK-based drinks giant Diageo is selling a portfolio of 19 brands to privately owned US firm Sazerac for US$550 million. Diageo believes the sale will allow the business to have a greater focus on its premium brands in the US, including Johnnie Walker.
Diageo, also known for Smirnoff vodka and Guinness stout, has said it would return the net proceeds of around US$438 million to shareholders through a share repurchase.
The sale, which also includes whiskey brands such as Seagram's 83, Seagram's