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Dublin: 14°C Saturday 16 October 2021

Guinness could soon be owned by really, really rich Brazilian

If the rumours about Diageo are true that is.

Image: Shutterstock

BRAZIL’S RICHEST MAN is debating a bid to take over Guinness brewer Diageo, according to reports from South America.

Forbes estimates Jorge Paulo Lemaan’s wealth at $24.7 billion. He also owns stakes in the world’s largest brewer Anheuser-Busch InBev, Burger King and and jointly owns H.J. Heinz & Company.

Brazilian magazine Veja reports that he’s now mulling over another takeover that would give him control of some more of the world’s iconic brands, Guinness included.

As well as the Irish stout, Diageo is also the world’s largest distiller. It counts Johnnie Walker, Tanqueray and Smirnoff as just three of the spirits in its vast portfolio.

True or not, the rumour is getting enough traction to cause shares in Diageo to jump in value. British-owned Diageo jumped by 8.7% on the New York Stock Exchange on Friday, the biggest daily increase the company has seen for six-and-a-half years.

diageo Source: Yahoo Finance

Over the last few years, Diageo has centralised much of its Irish brewing in Dublin, shedding some jobs in other parts of the country but investing in the stout’s famous brewery in St. James’s Gate in Dublin.

The museum at the nearby Guinness Storehouse is also the most visited tourist attraction in the country.

Read: Guinness is launching a brand new lager >

Read: 30 years ago: Guinness contemplated cutting the Irish connection >

About the author:

Rónán Duffy

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