Diageo in 2011 – Majority stake acquired in Shuijingfang
On 17 December 2017, Diageo turns 20 years old. To celebrate this milestone Diageo is looking back over 20 years of its history and highlighting memorable moments since it was formed back in December 1997. 2011 saw Diageo become the first global company to own a majority stake in the fast growing Chinese White Spirits category through the acquisition of a controlling share of Shuijingfang.
Feature 15 DEC 2017
2011 was a landmark year for Diageo as it received regulatory approval to buy the outstanding shares in Sichuan Shuijingfang and became the first global company to own a majority stake in the fast growing Chinese White Spirits category.
Shuijingfang is still being made in the Jinjiang district of Chengdu, China, using real traditional Baijiu production techniques. Shuijingfang’s traditional production techniques and skills have been listed as ‘national intangible cultural heritage’ in China and Shuijingfang was the first thick-fragrance baijiu brand to be authorised as ‘Geographical origin products of the People's Republic of China’.
This investment came at the same time as Diageo looked to expand its presence in fast growing markets, where it gained a controlling stake in Serengeti Breweries in Tanzania, an equity stake in Halico in Vietnam, the acquisition of Mey Icki in Turkey and a controlling stake in Zacapa super premium rum in Guatemala.