Tuesday, July 23, 2024

Diageo sells Safari to Casa Redondo

Diageo has agreed the sale of Safari, a fruit flavoured liqueur brand, to Casa Redondo, a Portuguese beverage-alcohol company.

Safari is predominantly sold in Benelux, Portugal and Türkiye. Given its consumer base, Diageo believes Casa Redondo is the right owner to take Safari into its next chapter of growth across Europe and beyond.

John Kennedy, Diageo’s President, Europe said: “The sale of Safari reflects Diageo’s commitment to delivering consistent growth and value creation for shareholders.

“This transaction will allow us to further concentrate on our core areas of strength, including tequila and whisk(e)y, as we accelerate towards our ambition; to be one of the best performing, most trusted and respected consumer products companies in the world.”

On the purchase of Safari, Daniel and Ricardo Redondo, Chief Executive and Chief Financial Officer of Casa Redondo said: “We are thrilled to announce the acquisition of Safari from Diageo.

“This transaction underscores our commitment to expanding our portfolio with premium offerings that resonate with consumers globally. We look forward to integrating this brand into our family, continuing to innovate for our customers, whilst ensuring exceptional quality.”

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