Diageo are not sellers’ of Guinness, Moet Hennessy stake: CFO

Diageo are not sellers’ of Guinness, Moet Hennessy stake: CFO

Diageo Confirms No Plans to Sell Guinness or Moët Hennessy Stake, CFO States

Diageo plc (DGE.L) has reaffirmed that its iconic Guinness beer brand and 34% stake in luxury drinks giant Moët Hennessy (LVMH.PA) are not for sale, despite recent market speculation. The company's Chief Financial Officer, Nik Jhangiani, explicitly stated during a capital markets day on 28 January 2025 that these assets remain core to Diageo's strategic portfolio and will not be divested as part of its broader asset-sale initiative according to CFO Nik Jhangiani.

The clarification followed earlier reports from Bloomberg suggesting Diageo was exploring options for Guinness, valued at over $10 billion, and reconsidering its long-term commitment to Moët Hennessy according to Reuters. Jhangiani emphasized that any asset sales would target non-core businesses, aligning with Diageo's goal to reduce debt and enhance free cash flow. "Guinness and Moët Hennessy are integral to our strategy," he said, reiterating this stance in a 26 January 2025 statement.

Diageo's third-quarter results, released in late January 2025, highlighted a 5.9% rise in organic sales, driven by strong demand for spirits like Johnnie Walker and increased shipments to North America ahead of potential U.S. tariff adjustments. The company also announced plans to save $500 million by 2028 through operational efficiencies according to Diageo's financial reporting.

Guinness, a standout performer in Diageo's portfolio, has delivered double-digit sales growth annually since 2021, including surging demand for its zero-alcohol variant according to Reuters coverage. Meanwhile, Diageo's stake in Moët Hennessy, part of LVMH Moët Hennessy Louis Vuitton, remains a significant, long-term investment.

The company will provide further updates during its interim results on 4 February 2025 and a dedicated Guinness investor day scheduled for 19–20 May 2025 as announced in the company's press release. For now, Diageo's commitment to retaining these assets underscores its focus on leveraging high-performing brands to drive sustainable growth.

Diageo CFO Nik Jhangiani's remarks at capital markets day, 28 January 2025: Diageo CFO Nik Jhangiani's remarks at capital markets day, 28 January 2025.
Diageo press release, 26 January 2025: Diageo press release, 26 January 2025.
Reuters reporting on Bloomberg speculation and Diageo's response, 26 January 2025: Reuters reporting on Bloomberg speculation and Diageo's response, 26 January 2025.