Tag Archives: Spirits

Guinness Nigeria acquires exclusive distribution rights to Diageo’s premium spirits in Nigeria

Guinness Nigeria Plc announced on Monday that it has acquired exclusive distribution rights to the International Premium Spirits (IPS) brands of Diageo’s Nigerian operations.

Diageo is Guinness Nigeria’s parent with a majority shareholding of 54.3 percent in Guinness stocks and with an expressed intent to increase its stake to 70 percent.

Diageo’s sales growth hampered by currency weakness

Diageo, the world’s largest distiller and maker of key brands like Guinness stout and Johnnie Walker, said that it expected sales growth in 2015 than in the previous year but was being hampered by currency weakness in emerging markets, which would lower operating profits by about £150 million.

In a trading update for its annual meeting, the drinks maker said that it sold more drinks in the first three months of its financial year than a year earlier.