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Diageo considers Zacapa move
Diageo is looking to snap up super-premium Guatemalan rum brand Zacapa Centenario.
The world’s biggest drinks company is in talks about acquiring a 50% stake in the brand.
Diageo agreed a three-year distribution and joint marketing deal in 2008 for the rum – which included the option to buy a 50% equity stake in Zacapa upon the completion of the contract in 2011.
A Diageo spokesperson said the two companies were in talks “about the future of our relationship” and that an announcement will be made at the appropriate time.
Key markets for Zacapa, which is produced from fresh sugar cane rather than molasses, are Spain, Italy and the US.
The brand has seen sales rise in recent years thanks to the increasing popularity of cocktails such as mojitos and daiquiris.
Alan Lodge, 24.11.2010