BRAZIL: Guinness UDV Sells Brazilian Spirits Brands To Campari
Guinness UDV, the beverage alcohol business of Diageo plc, today announced that it has reached an agreement to sell UDV Industria E Comercio Limitada (UDV IC) to Campari. UDVIC is a Brazilian business that produces and markets local brands Dreher, Old Eight and Drurys. The purchase price, which is not material to Diageo, is not disclosed. Jack Keenan, deputy chief executive of Guinness UDV said: "The decision to sell these brands reflects Diageo's strategy of building our global priority brands like Johnnie Walker, J&B and Smirnoff which are driving growth for the business", said Jack Keenan, deputy chief executive of Guinness UDV.
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