Diageo has today completed the purchase of Irish whiskey brand Bushmills from Pernod Ricard for approximately GBP200m. The acquisition was announced earlier this year as part of Pernod's takeover of Allied Domecq.

In a statement, Paul Walsh, Diageo's chief executive, said: "The acquisition of Bushmills is a particularly exciting opportunity. This is one of the industry's oldest Irish whiskey brands and gives Diageo, for the first time, an important presence in this growing category.

"Since 2000 Diageo has built a focused premium drinks company which is now a world leader. The business has grown organically and through targeted acquisitions and the Bushmills purchase continues this strategy."

Bushmills will join two other Irish brands in the Diageo portfolio - Guinness and Baileys.

"We believe Bushmills has huge growth potential and are looking forward to utilising our marketing expertise and distribution capabilities to catapult this brand into the global whisk(e)y market," Walsh added.

UBS Investment Bank acted as financial advisor to Diageo with Slaughter and May as legal advisor.