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UK alcoholic beverage multinational Diageo has announced it has agreed to sell its Safari spirits brand to Casa Redondo, a Portuguese alcoholic drinks company, as part of a portfolio review.
Safari offers fruit-flavoured liqueurs and is primarily sold in Benelux, Portugal and Turkey.
Commenting on the move, Diageo’s president, Europe John Kennedy said: “The sale of Safari reflects Diageo’s commitment to delivering consistent growth and value creation for shareholders. This transaction will allow us to further concentrate on our core areas of strength, including tequila and whisk(e)y, as we accelerate towards our ambition; to be one of the best performing, most trusted and respected consumer products companies in the world”.
Casa Redondo chief executive and chief financial officer Daniel and Ricardo Redondo added: “We are thrilled to announce the acquisition of Safari from Diageo. This transaction underscores our commitment to expanding our portfolio with premium offerings that resonate with consumers globally. We look forward to integrating this brand into our family, continuing to innovate for our customers, whilst ensuring exceptional quality”.
Source: Diageo
