GUATEMALA/UK: Diageo begins Zacapa rum talks
Will Diageo look to intensify its relationship with Zacapa?
Diageo has confirmed that it has started discussions with the owner of the Zacapa rum brand over their future relationship once the current agreement ends.
Back in February 2008, Diageo announced that it had signed a three-year global distribution and joint marketing deal for Zacapa with the Industrias Licoreras de Guatemala group. The current tie-up is set to end on 1 April next year, when Diageo has an option to buy a 50% equity stake in the brand "subject to performance criterion", the firm said in 2008.
Speaking to just-drinks today (19 November), a spokesperson for Diageo said: "We are in discussions with the brand owners about the future shape of our relationship." The spokesperson declined to comment further on what direction Diageo would look to take with Zacapa.
"When we have something to announce, then we will do so," the spokesperson added. "Until then, we will carry on working together to build the brand as we have done since 2008." An announcement can be expected on a resolution of the discussions "in the first half of the next calendar year".
The Zacapa portfolio includes Zacapa Centenario 15, Zacapa Centenario 23 and the ultra premium Zacapa Centenario XO. Core markets for distribution include the US, Mexico, Chile, Spain, Japan and global travel retail.
We should not be too surprised that Diageo has ended its flirtation with Stock Spirits....
Patrón Spirits has poached an executive from Diageo to replace its current executive VP for sales in North America....
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