Diageo and Casa drink swap
CASA CUERVO AND DIAGEO CURRENTLY EACH OWN 50% OF DON JULIO TEQUILA
MULTINATIONAL alcoholic beverage producer Diageo yesterday agreed an asset swap deal with Mexico’s Casa Cuervo, owner of its flagship Jose Cuervo tequila brand. The transaction sees Diageo take full global ownership of Casa Cuervo’s Tequila Don Julio brand. Diageo has agreed to sell its Bushmills Whisky brand to Jose Cuervo Overseas and will be paid $408m.
CASA CUERVO IS PAYING DIAGEO $408m
DIAGEO IS SELLING BUSHMILLS WHISKY TO CASA CUERVO IN RETURN FOR THE OTHER 50%