Diageo-controlled Desnoes and Geddes (D&G) has sold its minority holdings in two Caribbean breweries to Heineken for US$9.26m.
//i2.aroq.com/1/redstripe.jpgThe Red Stripe brewer said late last week that it has divested its 5% stake in Brasserie Nationale d’Haiti and its 10% shareholding in St Lucia's Windward & Leeward to the Dutch firm. “This is the right time to dispose of these minority shareholdings as we have ambitious plans for Red Stripe with several major initiatives being undertaken,” said Cedric Blair, Red Stripe's MD.
He added: “We are focusing on growing the Red Stripe business locally and internationally.”
Nobody was immediately available for comment from Heineken.
Both Brasserie Nationale d’Haiti and Windward & Leeward will continue to brew Guinness under licence for Diageo, D&G said.
Last year, Diageo handed brewing operations for Red Stripe sold in the US to Pennsylvania-based City Brewing.
Sectors: Beer & cider, Mergers & acquisitions
