Diageo’s acquisition to help Don Papa Rum reach more markets - BusinessWorld Online

Diageo, which owns brands such as Johnnie Walker and Smirnoff, on Tuesday announced it was acquiring Don Papa Rum, a homegrown dark rum brand, for an initial €260 million . Depending on the brand’s performance, Diageo will pay up to €177.5 million through to 2028, which may bring the total deal value to €437 million .

Globalinks Securities and Stocks, Inc. Head of Sales Trading Toby Allan C. Arce said in a Viber message that Diageo’s acquisition of Don Papa Rum bodes well for the company and the brand. “Diageo has a strong track record in nurturing founder-led brands. They believe in our unique story and have genuinely embraced our brand idea. We believe this acquisition is a great opportunity to take Don Papa into the next exciting chapter of its development,” Mr. Carroll said in a statement.

Diageo said that Don Papa Rum, which registered a compound annual growth rate of 29% from 2016-2021, has outperformed the CAGRs of super premium rum segments in Europe and US at 18% and 27%, respectively.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tanduay enters Austrian market | VG CabuagTanduay, a brand of rum produced by Lucio Tan’s LT Group Inc., has partnered with Weisshaus, a leading distributor of international spirits, to bring the local brand to Austria. Andreas Osler, Weisshaus managing director, said the company sees Tanduay’s “enormous potential” in the Austrian market. Tanduay is the first Asian…
Source: BusinessMirror - 🏆 19. / 59 Read more »