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DIAGEO HAS SAID it has “no intention” to sell the Guinness brand.
The announcement comes after media reports that the drinks giant was considering spinning off or selling its Guinness beer business.
A spinoff would mean carving out Guinness as a separate company, rather than selling it altogether.
On Friday, Bloomberg News reported that Diageo was also reviewing the future of its 34% stake in Moet Hennessy, the drinks division of luxury firm LVMH.
Diageo shares rose by more than 4% in London in the hours after Bloomberg reported the company’s review of its brands.
The media reports came amid a testing period for Diageo boss Debra Crew, who has seen the company’s shares steadily decline under her leadership over the past year-and-a-half.
In November, Diageo shares hit their lowest level since 2017.
The company will deliver an earnings report early next month.
Bloomberg reported that Guinness could be valued north of $10 billion (€9.5 billion), if it looked at a possible stock market listing or gauged possible takeover interest.
However, in a statement today, a spokesperson for Diageo said: “We note the recent media speculation around the Guinness brand and our stake in Moët Hennessy and we can confirm that we have no intention to sell either.
“We will next update the market with Interim results on 4 February 2025 and we look forward to hosting our Guinness investor and analyst day on 19/20 May 2025.”
Guinness has been a key area of growth for Diageo in recent years, with the stout becoming the UK’s most popular beer in 2022, after overtaking Carling lager.
In July, the company said strong sales of Guinness, particularly in the UK, helped to drive an 18% rise in beer sales across the company.
It came as the group revealed total sales dropped for the first time in around four years, amid weaker demand for scotch and rum.
Meanwhile, Diageo has reportedly looked at the potential sale of its Pimms liqueur and Ciroc vodka brands over the past year.
Ciroc used to be backed by music mogul Sean ‘Diddy’ Combs, who is facing multiple accusations of sexual assault and other forms of abuse.
-With additional reporting from Press Association
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Why do we continually need to interfere with nature? I had natural prolonged labour for which I was given two doses of oxytocin to speed it up! After the 2nd dose it sped it up alright so much so an emergency section that should have happened did not and my son was born with an erbs palsy. Had it nit progressed as normal the section would have happened and he would not have his disability. Let nature take its course.
@Lydia Mcloughlin: I’m sorry to hear about your little one’s disability. But birth mortality rates, both mother and baby, were a lot higher when humans used to just do it naturally. Following medical advice has reduced this drastically.
Irish maternity hospitals are overwhelmed and so obsessed with speeding up everything, a long natural labour is something they cannot afford hence the very high C section rate.
My first two births were emergency c sections. My third was an elective c section. Result was 3 healthy children now adults. Each time I got over the operation and got on with my life, and rearing my children. My eldest would have died had I not had a c section.
Ah comments open! in the comment closed app. And sorry to go off topic briefly everyone. And sorry everyone I’m new this and a little thick obviously. Can anyone tell me why 75% of stories on this app are closed comments? What is it. Is it an irish media thing, or legal thing. Can some explain like I’m a 10 year old. Very annoying. Thanks in advance
@Ian Mc: Why should they be open??? You do NOT have an automatic right to comment everywhere. Like writing a letter to a newspaper, you don’t have a right to get your views published. And also if many of the news items allowed comments the usual knuckle draggers would be out in force.
@Sean O’Dhubhghaill: Tell us more about what you don’t know about boxing, you absolute sap.
@Ian Mc: because some people cannot control themselves when it comes to topics like immigration etc
@YKwkSIqW: from Sean’s comments earlier, I think he knows quite a lot about boxing, but obviously has a different opinion to you and a lot of other people. I for one commend him for voicing his opinion in the face of such vitriol. No need for insulting remarks
@SYaxJ2Ts: Thanks, Kevin! :-)
@YKwkSIqW: I know that subjective judging in boxing has led to complete corruption at times, to such an extent that it can NOT be viewed with any form of objectivity and as such, in my opinion, is NOT a sport in any meaning of the word.
@Ian Mc: I’m sure the tone and content of Bronagh’s comment will go some way to answer your question.
@SYaxJ2Ts: From his comments earlier, he doesn’t have a clue about boxing or the judging system. You should also stay in your lane, Kevlad.
@YKwkSIqW: It seems the boxing judges don’t have a clue about boxing!
Starting to sound like America,
Funded by private medical companies.this isn’t about women’s health. It’s about profits. If it read doing it at 39 weeks and keeping them in hosp, maybe. Sending them home surely increases risk of infection, I have a serious problem with ex Masters making decisions also. Is he being paid by same company.
Since when was 39 weeks full term? 40 weeks is officially full term. So 41 weeks would be 1 week past full term. Inductions can be brilliant but considering that baby’s weight is an estimate, basing the need for one solely on the potential birth weight seems to be a bit off. I can understand if there’s other factors involved but not even letting woman go full term before suggesting it goes a little far. My understanding was previously induction was only mentioned if you were 40+10 or more on a “normal pregnancy” & only earlier if you had something like gestational diabetes.
@Susan Walsh: I wish I had a obgyn sensible enough to do an induction at 40 weeks. After a very healthy pregnancy I went 3 weeks/ 21 days overdue. When finally induced and after 23 hours in labour my baby became distressed and I was taken down to do a C section. At the last minute the doctor decided to do a high forceps delivery instead and my baby was born with brain damage. 38 years later my intellectually and physically challanged child and us her parents are still in the prison of that doctors making. Nowadays I would definitely opt to be induced at 39-40 weeks.
A word to the wise, if you are pregnant and choosing a birthing partner, make sure they are strong willed enough to stand up to medical bullying. Make them aware of your wishes so they can fight your corner.
Conveyor belt… Ready
Can we not just allow nature take its course! Everything in the world doesn’t need to be changed….. just for the sake of it!
@Niall Binéad: when you can get pregnant and carry a baby for 39-40 weeks, I hope I’d be around to see nature take it’s course. Until then you know nothing.
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