Opinion
Ditching Guinness for Moet Is a Hard Choice for Diageo
The drinks company has long coveted LVMH’s wine and spirits division. But that might not be worth selling off Britain’s most popular pint.
Guinness-owners Diageo not planning a sale or spinoff
DRINKS company Diageo refuted rumours that it could sell Guinness or its 34 per cent holding in Moet Hennessy.
Diageo says it has no intention to sell Guinness or stake in Moet Hennessy
Guinness is an outlier in Diageo's business, which consists mostly of spirits rather than beer, but its performance recently has outshone that of key liquor labels, such as Johnnie Walker whisky.
Diageo silent as Guinness, Moët Hennessy talk boosts shares
Shares in Diageo stood at 2,501.5p, up 4.16% on the day. The positions of the Moët Hennessy stake and of Guinness in the Diageo portfolio have periodically been the subject of market speculation. In December 2023, Axios reported Diageo was seeking to sell a clutch of assets in beer but retain Guinness, its flagship brand in that sector.
Diageo does not intend to sell Guinness or its stake in Moet Hennessy
Bloomberg News previously reported that the UK drinks company was reviewing its portfolio, with a spin-off or sale of Guinness under consideration
Diageo rules out sale of Guinness brand and stake in Moët Hennessy
Media reports suggested Diageo was considering asset sales to boost growth, cashing in on high demand for Guinness. View on euronews
MARKET REPORT: Analysts toast Diageo as it rules out Guinness sale
A report by Bloomberg last week said the FTSE 100 giant was exploring options for both Guinness and its investment in LVMH's Moet Hennessy drinks unit.
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LVMH’s wine-and-spirits arm sees profits slide in 2024
The Hennessy Cognac maker reported underlying operating profit from the division dropped by more than a third.
Champagne sales decline: Have people stopped celebrating?
Champagne sales have fallen to their lowest levels in over two decades, with shipments down nearly 10 per cent globally.