Diageo Denies Intention to Sell Guinness Brand or Moët Hennessy Stake
(Reuters) - Diageo, the world's leading spirits maker, has dismissed rumors that it intends to sell its renowned beer brand, Guinness, or its investment in Moët Hennessy, the drinks arm of luxury conglomerate LVMH.
The company's statement on Sunday followed a report by Bloomberg News on Friday that suggested Diageo was exploring options for Guinness, which has emerged as a standout performer within its portfolio. The report also highlighted that the brand's valuation could exceed $10 billion.
"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," stated Diageo.
The company further announced that it would provide updates on its financial performance during the release of its interim results on February 4th.
Guinness holds a unique position within Diageo's portfolio, primarily focused on spirits. However, its recent performance has surpassed that of prominent liquor brands, including Johnnie Walker whisky. Notably, Guinness sales have consistently achieved double-digit growth since 2021, with its non-alcoholic variant also experiencing significant demand.