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Diageo: ‘No intention to sell’ Moët Hennessy stake
Johnnie Walker owner Diageo said it has no plans to sell its stake in Moët Hennessy, quashing widespread speculation.
The rumour mill has been in overdrive this past week, as reports speculated the world’s biggest spirits company was contemplating selling its Guinness stout brand and 34% stake in Moët Hennessy, the wine and spirits arm of LVMH.
According to Bloomberg, which first reported the story, selling Guinness was among options being considered to recoup lost sales for Diageo, a deal that would probably be “valued north of US$10 billion (£8bn)”, the publication claimed.
Yesterday (26 January), Diageo published a statement directly addressing the recent media speculation.
The statement said: “We note the recent media speculation around the Guinness brand and our stake in Moët Hennessy and we can confirm that we have no intention to sell either.
“We will next update the market with interim results on 4 February 2025 and we look forward to hosting our Guinness investor and analyst day on 19/20 May 2025.”
Diageo owns more than 200 brands, including Smirnoff, Captain Morgan, Port Ellen, Gordon’s Gin, Tanqueray and Baileys.
Last week, Diageo sold Venezuelan rum brand Cacique to French drinks producer La Martiniquaise-Bardinet for an undisclosed amount.
The deal came six months after Diageo offloaded Venezuelan rum brand Pampero to Italian drinks company Gruppo Montenegro.
Diageo reported flat organic net sales for its full financial year, which ended on 30 June 2024. Sales of Diageo’s Casamigos Tequila fell by 20%.
In December, The Spirits Business compiled a list of the top 10 spirits acquisitions of 2024.
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