Di­a­geo sells VO to Saz­erac for $550 mn

India Business Journal - - GLOBAL WRAP-UP -

Di­a­geo has agreed to sell Sea­gram's VO whiskey and 18 other brands to close­ly­held US dis­tiller Saz­erac for $550 mil­lion as the maker of John­nie Walker fo­cuses on higher-end la­bels. The world's largest dis­tiller has said that the deal will help it de­velop faster-grow­ing premium drinks in its US port­fo­lio, where it is push­ing new brands like Ge­orge Clooney's Casami­gos te­quila along­side its core whiskey and vodka lines. Saz­erac, the Me­tairie, Louisiana-based owner of Buf­falo Trace bour­bon, has been flesh­ing out its port­fo­lio by adding brands such as South­ern Com­fort.

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