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DIAGEO HAS SAID it has “no intention” to sell the Guinness brand.
The announcement comes after media reports that the drinks giant was considering spinning off or selling its Guinness beer business.
A spinoff would mean carving out Guinness as a separate company, rather than selling it altogether.
On Friday, Bloomberg News reported that Diageo was also reviewing the future of its 34% stake in Moet Hennessy, the drinks division of luxury firm LVMH.
Diageo shares rose by more than 4% in London in the hours after Bloomberg reported the company’s review of its brands.
The media reports came amid a testing period for Diageo boss Debra Crew, who has seen the company’s shares steadily decline under her leadership over the past year-and-a-half.
In November, Diageo shares hit their lowest level since 2017.
The company will deliver an earnings report early next month.
Bloomberg reported that Guinness could be valued north of $10 billion (€9.5 billion), if it looked at a possible stock market listing or gauged possible takeover interest.
However, in a statement today, a spokesperson for Diageo said: “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.
“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.”
Guinness has been a key area of growth for Diageo in recent years, with the stout becoming the UK’s most popular beer in 2022, after overtaking Carling lager.
In July, the company said strong sales of Guinness, particularly in the UK, helped to drive an 18% rise in beer sales across the company.
It came as the group revealed total sales dropped for the first time in around four years, amid weaker demand for scotch and rum.
Meanwhile, Diageo has reportedly looked at the potential sale of its Pimms liqueur and Ciroc vodka brands over the past year.
Ciroc used to be backed by music mogul Sean ‘Diddy’ Combs, who is facing multiple accusations of sexual assault and other forms of abuse.
-With additional reporting from Press Association
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I returned home 2 months a go after 2 years in Brazil having never been on the dole before. Now 8 weeks later I’m at my wits end, I have started two jobs since I got home only to end up loosing the as I stood up to my employers for the lack of breaks. I recently worked for a push bike courier and worked 9 hours straight,when asked about lunch I was told it was too busy. There are lazy people out there but employers seem to be able to do as they wish at times.
Unfortunately the idea of “you have a job, you should be grateful ” over the last few years has given alot of employers the attitude that employees should and will take any conditions and crap that’s thrun at them and because so many people are sinking into poverty and are barely keeping their heads above water even though they are working they feel they have no other option but to put up and shut up. It’s a vicious circle.
Have you at any point considered turning to crime or drug abuse as a result of these problems?
I was unemployed for a number of months before I emigrated and not once was this a consideration of mine.
I’m not really sure why we’re constantly being told that “lack of support” of various different types is the cause of drug use and crime. I had little support, aside from Social Welfare, while I was unemployed and managed to get my ass out of the country and a new job without starting on heroin and mugging old ladies.
Where is the support for the retired Irish mother with a husband who hasn’t worked since 2009 and is getting by on state pensions and missing the support (emotional and financial) of her adult children who have all had to emigrate, or are unemployed themselves? Nope, not a word about that – it’s *always* inner city Dublin.
Also, I’m not entirely sure how quantifiable answers to questions such as “how is the recession, and Government policy, affecting your life?” actually are and how from this they can conclude the “greatest impact of the crisis and austerity measures has been felt by people who are on the lowest incomes and most dependent on state supports and services,” Surely these are subjective?
Similarly, communities like Fatima Mansions are much easier to provide services to than, say, dispersed rural communities. The fact that the have “community workers” to speak up (be they paid or voluntary) is something. Who speaks on behalf of the many thousands of people outside inner city Dublin who aren’t mentioned in the article?
There is much food for thought in your well considered comment. Kudos.
Time for the Irish people to stand up for themselves.
Pete
Dont be silly the Irish are lap dogs. Never protest, never stand up, just take it time and time again
Sad but very true :(
It’s all the fluoride In the water,makes them dolicile.Its banned everywhere in Europe.
Bullshit
The politicians are not going to stand up for anyone. They are too busy slurping at the trough with their newly appointed consultants. Why don’t these community groups demand free electricity and water for low income families and individuals? Are they so mired in corruption that they are unable to propose some simple solutions? And before the shareholders of Ireland Inc. start gnashing their teeth, and asking who will pay for it. The answer is, the Utility corporations can easily afford to take a small dip in profits.
You shut your mouth, put on some clothes, get down them stairs and get out & get a bleedin job for yourself (Dessie Curly)
Can’t find the full report online, does anyone have a link?
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