Diageo PLC Sells Argentinian wine interests to Grupo Peñaflor (7168E)
05 Novembre 2015 - 3:00PM
UK Regulatory
TIDMDGE
RNS Number : 7168E
Diageo PLC
05 November 2015
5 November 2015
Diageo sells Argentinian wine interests to Grupo Peñaflor and
appoints them as dedicated distributor for Diageo's spirits
brands
Diageo has agreed the sale of its wine interests in Argentina to
Grupo Peñaflor. In addition, Peñaflor will be appointed as the
distributor of Diageo's international spirits brands and, after an
interim period, will jointly produce with Diageo its domestic
spirits brands across Argentina. The appointment of a dedicated
distributor in Argentina will strengthen Diageo's route to market
and is expected to accelerate the performance of Diageo's brands
there. The transaction is expected to be completed early in
2016.
Sale proceeds, which are not material, have not been disclosed.
The sale includes the Navarro Correas and San Telmo wine brands,
together with production sites and vineyards. In the year ended 30
June 2015 net sales were GBP18.5 millon.
The transaction, which is eps neutral in the first full year
following completion, will result in an exceptional loss before
taxation of approximately GBP60 million upon completion.
ENDS
For further information
Media relations: Kirsty King +44 (0)208 978 6855
Clemmie Raynsford +44 (0)208 978 1221
global.press.office@diageo.com
Investor relations: Pier Falcione +44 (0) 208 978 4838
Angela Ryker Gallagher +44 (0) 208 978 4911
investor.relations@diageo.com
About Diageo
Diageo is a global leader in beverage alcohol with an
outstanding collection of brands including Johnnie Walker, Crown
Royal, J B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and
Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and
Guinness.
Diageo is a global company, and our products are sold in more
than 180 countries around the world. The company is listed on both
the London Stock Exchange (DGE) and the New York Stock Exchange
(DEO). For more information about Diageo, our people, our brands,
and performance, visit us at www.diageo.com. Visit Diageo's global
responsible drinking resource, www.DRINKiQ.com, for information,
initiatives, and ways to share best practice.
Celebrating life, every day, everywhere.
About Grupo Peñaflor
Grupo Peñaflor is the largest producer and distributor of wine
in Argentina, and one of the top ten wine producers worldwide.
This information is provided by RNS
The company news service from the London Stock Exchange
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