“The acquisitions of Peligroso and DeLeón do not preclude Diageo from a further acquisition. Even if they had bought Jose Cuervo they may have bought these brands,“ Cunnington told DI.
He added: “You knew they were going to go for something at a cheaper price point than DeLeón. This brand will compete with Patrón - super-premium is where it is at in terms of growth. Diageo would still like Jose Cuervo but it will not overpay for it, so they could still go somewhere else. The key thing with Diageo is that it is particular about its brands.”
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