Diageo sells Argentinian wine interests to Grupo Peñaflor

05 November, 2015

Diageo has agreed the sale of its wine interests in Argentina to Grupo Peñaflor.

The company has also announced Peñaflor will be appointed as the distributor of Diageo’s international spirits brands and, after an interim period, will jointly produce its domestic spirits brands across Argentina. 

It is hoped the appointment of a dedicated distributor in Argentina will strengthen Diageo’s route to market and is “expected to accelerate the performance of Diageo’s brands”. 

The sale includes the Navarro Correas and San Telmo wine brands, together with production sites and vineyards. In the year ended 30 June 2015 net sales were £18.5 million. 

Sale proceeds, which are not material, have not been disclosed. The transaction is expected to complete early in 2016.





Digital Edition

Drinks International digital edition is available ahead of the printed magazine. Don’t miss out, make sure you subscribe today to access the digital edition and all archived editions of Drinks International as part of your subscription.

Comment

Nick Strangeway

Bar food's blurred lines

Once upon a time pubs and bars were somewhere you went with the sole purpose of getting pissed and there wasn’t a knife and fork in sight, just a packet of dry roasted nuts.

Instagram

Facebook