Diageo dismisses Guinness sale speculation amid brand’s growing popularity
UK – Diageo, the global drinks giant behind Guinness, has categorically denied reports that it is considering selling the iconic Irish stout brand.
The Johnie Walker whisky maker issued a statement denying that Guinness was up for sale or that a disposal of its 34% stake in the champagne and cognac business Moët Hennessy was on the cards.
In a statement, 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 February 4, 2025, and we look forward to hosting our Guinness investor and analyst day on May 19/20, 2025.”
The speculation, initially reported by Bloomberg, suggested that Guinness could command up to US$10 billion if sold or spun off. Following the rumors, Diageo shares surged by more than 4%.
Guinness has been a significant driver of growth for the London-listed company in recent years. In 2022, the stout surpassed Carling lager to become the UK’s most popular beer.
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.
The brand’s appeal has expanded, thanks in part to a marketing strategy leveraging social media influencers and celebrities. These efforts have successfully attracted younger drinkers, including Gen Z, as well as women, contributing to the stout’s fashionable resurgence.
Separately, Diageo recently completed the sale of Cacique, a Venezuelan rum brand, to Bardinet, a prominent player in the Spanish spirits market.
“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,” John Kennedy, the company president for Europe, said at the time of sale.
Looking ahead, the company’s annual global trends report predicts a rise in “zebra striping” — alternating between alcoholic and non-alcoholic beverages during the same occasion.
The report also highlights increasing consumer interest in wellness, self-care, and slower-paced social interactions, trends expected to shape the market in 2025.
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