Diageo pursues global wine operations sale
Diageo is pursuing offloading wine brands including Blossom Hill and Sterling Vineyards after being approached by a number of unidentified third parties.
Reports in the press suggest the owner of Guinness, Smirnoff and Johnnie Walker is considering a sale following an unexpected fall in sales.
Issuing a statement to Sky News Diaego said it had "received expressions of interest over the years" adding "as you would expect we have a duty to consider any such interest carefully."
Wine brands account for around four per cent of Diaego's group sales and is regarded as a non-core business within the group. It is unclear if a sale would include Diageo's partnership with LVMH to distribute the Dom Perignon and Moët & Chandon champagne brands.
In addition to the wine division, Diageo is also exploring selling hotel and golf course Gleneagles.