Diageo to take controlling stake in Zacapa rum
Source: Drinks International
09 June, 2011
Global drinks giant Diageo has reached an agreement with Industrias Licoreras de Guatemala to take a 50% controlling stake in the Guatemalan Zacapa rum brand.
In 2008 Diageo entered into a three year distribution agreement for Zacapa rum with the option to take an equity stake in Zacapa at the end of the term.
A statement from Diageo said: "We have now reached an agreement and, subject to the usual closing conditions, Diageo will take a 50% controlling stake in Zacapa.
"No details of the transaction are being released but we can confirm that it meets Diageo's investment criterion and is economic profit positive in year three."
Note: I'm confused as to when 50% became controlling interest, but I've been wrong before.
Ambassador of Rum
Ministry of Rum
When I dream up a better job, I'm going to take it. In the meantime, the research continues.