Diageo Increases Shareholding in United Spirits
Diageo has acquired further shares in United Spirits on the Bombay Stock Exchange to take its controlling stake position to 55.2%. United Spirits is a highly strategic asset for Diageo and positions the global drinks giant well to capitalise on opportunities within India, one of the most exciting growth markets in the world for total beverage alcohol.
During Diageo’s 2019 financial year, United Spirits’s organic net sales increased 8%, with growth from the ‘prestige and above’ segment up 12%, led by double digit growth in Scotch. The business continues to make significant progress on operating margin, which is now in the mid-teens, and is underpinned by a focus on everyday efficiency and investment in capabilities, technology and process improvement across the business.
