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Diageo, the global spirits firm, has announced it has agreed to sell its Sheridan’s to Casa Redondo, a Portuguese beverage alcohol company.
Sheridan’s, which a distinctive dual-chamber coffee and cream liqueur, is a well-established brand available in more than 50 countries with strong distribution across Europe.
Commenting on the move, Diageo president for Europe and chief commercial officer Dayalan Nayager said: “The sale of Sheridan’s is another example of our sharp focus on effective portfolio management and maximising shareholder value. It follows previous European transactions, including the sales of Pampero, Cacique and Safari, as we continue to focus on our core strengths and accelerate towards our ambition to create one of the best performing, most trusted and respected consumer products companies in the world”.
Casa Redondo CEO Daniel Redondo added: “Sheridan’s is a unique brand with strong consumer recognition and an enduring identity. Bringing it into our portfolio represents a pivotal moment for Casa Redondo”.
“This acquisition strengthens our international presence and reflects our ambition to build an increasingly global business”, he concluded.
Source: Diageo
