Diageo has issued a statement following widespread rumours that it was considering the sale of its Guinness brand, along with its 34% stake in Moët Hennessy.
Bloomberg News reported last week that Diageo was reviewing its portfolio with the aim of reviving growth. The report said Guinness alone could be valued at more than $US10 billion.
“We note the recent media speculation around the Guinness brand and our stake in Moët Hennessy and we can confirm that we have no intention to sell either,” the company said.
“We will next update the market with Interim results on 4 February 2025 and we look forward to hosting our Guinness investor and analyst day on 19/20 May 2025.”
The global cost of living crisis has impacted sales for drinks companies. Diageo’s sales declined for the first time since the pandemic in FY24, although Great Britain bucked the trend with a 5% sales increase due to booming popularity of Guinness and associated products such as its alcohol-free version and its Nitrosurge home-pouring technology.