Diageo Strengthens Brewing Business
October 29
13:55
2010
Diageo has strengthened its beer business in emerging markets after its East African Breweries subsidiary acquired a 51% stake in rival Tanzanian brewer Serengeti Breweries for $60.4m (£38.1m). The deal strengthens East African’s distribution in Kenya and Uganda.
Meanwhile, speculation has heightened that Diageo is considering a move to purchase the 66% of Moet Hennessy, the drinks business of French luxury goods group LVMH, that it does not already own. Incorporating the Hennessy cognac and Moet & Chandon and Don Perignon champagne brands, Moet Hennessy would cost Diageo in the region of £10.8b.
