Diageo North American Unit Investing in Venture Focus on Black-Owned Businesses
24 Maggio 2021 - 2:46PM
Dow Jones News
By Micah Maidenberg
Diageo PLC's North America unit is investing in a new venture
that aims to support emerging alcoholic-beverage brands that are
run by Black entrepreneurs.
The spirits company said Monday its business covering the U.S.
and Canada will make an investment to anchor the venture, called
Pronghorn, and serve as a founding partner in the effort.
"Pronghorn will identify and nurture new brands and nourish
emerging businesses through capital investment, thereby generating
hundreds of new founders and thousands of participants," the
company said in a statement.
The Pronghorn venture was founded by Erin Harris and Dia Simms,
both of whom have long worked in the alcohol industry.
"It's important that the Black community is represented on both
sides of the bar, from brand creation to boardrooms and everywhere
in between," said Ms. Simms.
Many companies have sought to bolster initiatives around racial
inclusion and equity following the police killing of George Floyd
and other Black Americans.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
May 24, 2021 08:37 ET (12:37 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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