John Kennedy, Diageo’s president, Europe, said: “We are committed to creating value for all our stakeholders through delivering consistent and efficient growth, including actively shaping our portfolio towards opportunities that will maximise growth over the long-term.
“We take a disciplined approach to capital allocation and this announcement continues our track-record of active portfolio management,” Kennedy added.
The transaction will not have a material impact on EPS, and as part of the transaction, Diageo has agreed a 24-month manufacturing supply agreement with De Kuyper Royal Distillers.
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