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Diageo, the UK alcoholic beverages multinational, has announced it has finalized the sale of the rum brand Cacique to Bardinet, a major Spanish spirits company.
Cacique is described as a Venezuelan rum brand with a 65-year heritage that is well-loved in Spain, in addition to its domestic market.
Commenting on the sale, John Kennedy, Diageo president, Europe said: “The sale of Cacique reflects Diageo’s strategy of maintaining a sharp focus on effective portfolio management. We are confident that Bardinet is the right owner for Cacique, maintaining the brand’s authenticity and prominent position in Spain and Venezuela, as well as building its position in Continental Europe”.
Bardinet CEO Jean-Paul Bouyat added: “This is a strategic addition to our portfolio which will help us to increase our rum market share in Spain and beyond. We are looking forward to integrating this brand into our family, continuing to strengthen our offering, whilst always ensuring exceptional taste and quality.”
Source: Diageo
