Diageo sells Archers brand to De Kuyper Royal Distillers
Diageo today announces the sale of Archers, the Peach Schnapps brand, to De Kuyper Royal Distillers.
John Kennedy, Diageo’s President, Europe, said: “We are committed to creating value for all our stakeholders through delivering consistent and efficient growth, including actively shaping our portfolio towards opportunities that will maximise growth over the long-term. We take a disciplined approach to capital allocation and this announcement continues our track-record of active portfolio management.”
The transaction will not have a material impact on EPS. As part of this transaction, Diageo has agreed a 24-month manufacturing supply agreement with De Kuyper Royal Distillers.
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Diageo is a global leader in beverage alcohol with an outstanding collection of brands including Johnnie Walker, Crown Royal, JεB and Buchanan’s whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and Guinness.
Diageo is a global company whose products are sold in more than 180 countries around the world. The company is listed on both the London Stock Exchange (DGE) and the New York Stock Exchange (DEO). For more information about Diageo, our people, our brands, and performance, visit us at www.diageo.com. Visit Diageo’s global responsible drinking resource, www.DRINKiQ.com, for information, initiatives and ways to share best practice.