Diageo agrees to sell liqueur brand for undisclosed fee

The drinks giant said the decision was informed by its desire to maintain a “sharp focus on effective portfolio management”. ​No financial details of the agreement have yet been revealed.

The news comes not long after Diageo agreed to sell its majority stake in Guinness Nigeria for £54m​​, although the firm stated that it remains committed to Nigeria through its partnership with Singapore-based conglomerate Tolaram.

Safari is a fruit flavoured liqueur predominantly sold in the Benelux region, Portugal and Türkiye, while Casa Redondo is a third-generation alcoholic beverage company based in Lousã, Portugal.

Casa Redondo’s flagship brand is Licor Beirão, the best-selling spirit brand in Portugal, while it also manages Aperitivo Per Se, Amarguinha, FoxTale Gin and Aldeia Velha brandy.

‘Focus on core areas of strength’

Commenting on the decision to sell the Safari brand, Diageo president for 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 whisky, as we accelerate towards our ambition; to be one of the best performing, most trusted and respected consumer products companies in the world.”​

Meanwhile, Daniel and Ricardo Redondo, chief executive and chief financial officer of Casa Redondo, said they were thrilled to have agreed to the acquisition.

“This transaction underscores our commitment to expanding our portfolio with premium offerings that resonate with consumers globally,”​ the pair added.

“We look forward to integrating this brand into our family, continuing to innovate for our customers, whilst ensuring exceptional quality.”​

Diageo possesses a portfolio of drinks brands that includes Johnnie Walker, Crown Royal, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and Guinness, while its products are sold in nearly 180 countries around the world.

In other news, Carlsberg has announced that it has reached an agreement to acquire soft drinks manufacturer Britvic for £3.3bn.​​