Diageo completes Mey Iški purchase

24 August, 2011

Diageo has announced that it has completed the acquisition of Turkish spirits firm Mey Iški, after receiving regulatory clearances.

The group first announced its intention to acquire Mey Iški in February, for an 'enterprise value' of $2.1 billion (ú1.3 billion).

According to Diageo, the Turkish Competition Authority's clearance is conditional upon the subsequent disposal of the Mey Iški brands Hare liqueur and Maestro gin.

Diageo anticipates that these disposals will be completed within the current financial year.

In a statement Diageo said: "Mey Iški will be fully consolidated and transforms Diageo's existing position in this fast growing spirits market."


Hamish Smith

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