The sale, which includes the W Series, will also see Diageo supply Bayside/Metis with Scotch whisky for ten years.
“Windsor is an important addition to our investment portfolio and allows us to participate in the dynamic Korean beverage alcohol market,” said Bum Jun Kim, chief executive of Bayside Private Equity for Bayside/Metis.
“We are confident that we can build on the innovation of Windsor and unlock further potential. We will work closely with Diageo to ensure a smooth transition over the next few months.”
Diageo has detailed that the deal will have no impact on earnings per share in 2022.
“This transaction marks the next chapter for Diageo Korea,” said Sam Fischer, president of Asia Pacific and Global Travel for Diageo.
“We remain fully committed to the market and further developing our international spirits and beer business, which is being driven by premiumisation and consumer interest in categories like international whisky.
“We take a disciplined approach to capital allocation and this sale is very much in line with our track record of active portfolio management.
“We are grateful to our Diageo Korea employees for all their dedication and support of the Windsor business and we will work with them, the Union, our valued customers and partners, and Bayside/Metis to ensure a smooth transition.”