VENEZUELA – Diageo plc, a global leader in premium alcoholic beverages, has finalized the sale of its Venezuelan rum brand Cacique to Bardinet S.A., the Spanish subsidiary of French spirits group La Martiniquaise-Bardinet.
The financial terms of the transaction were not disclosed.
Cacique, a rum with a 65-year heritage, is renowned for its authentic Venezuelan roots and is particularly popular in Spain and Venezuela.
Sold in 700ml bottles at 37.5% alcohol by volume (ABV), the brand has established a strong consumer base over the years.
John Kennedy, President of Diageo Europe, stated that the divestment aligns with the company’s focus on strategic portfolio management.
“The sale of Cacique reflects Diageo’s strategy of maintaining a sharp focus on effective portfolio management. We are confident that Bardinet is the right owner for Cacique, maintaining the brand’s authenticity and prominent position in Spain and Venezuela, as well as building its position in Continental Europe,” he said.
Jean-Paul Bouyat, CEO of Bardinet S.A., welcomed the addition of Cacique to the company’s portfolio.
“Cacique is a uniquely positioned Venezuelan rum with a strong heritage. This is a strategic addition to our portfolio which will help us to increase our rum market share in Spain and beyond,” Bouyat commented.
Bardinet S.A. is known for its wide range of spirits, including Dillon white rum, Bericho bitters, and Bonet liqueurs.
Operating under the La Martiniquaise-Bardinet group, one of the world’s top 10 spirits companies, Bardinet continues to expand its global footprint with operations in 180 countries and a turnover of €1.5 billion (US$1.6B).
The sale follows other recent divestments by Diageo, including the sale of Safari liqueur to Casa Redondo and Pampero rum to Gruppo Montenegro, as the company sharpens its focus on its core portfolio.
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