Ex-Diageo boss ‘in the mix for Peroni bid’

Former Diageo CEO Paul Walsh is in talks to buy the Peroni and Grolsch beer brands that are being sold as part of the £71 billion takeover of SABMiller by AB InBev, according to reports.

Ex-Diageo chief executive Paul Walsh left Diageo in 2013 (Photo: Diageo)

Walsh is working in partnership with private investment firm TPG Capital to make an offer to buy the two global brands, which analysts have valued at £2 billion, Sky News reports.

The talks with TPG in the “early stages” but could result in a formal offer being made, sources told the news channel.

the drinks business has contacted TPG Group for comment.

The two brands are currently owned by global beer producer SABMiller, which is in the process of being taken over by Budweiser and Stella Artois producer AB InBev.

AB InBev recently confirmed press speculation that it is aiming to sell Peroni and Grolsch in order to try to secure regulatory approval for the takeover, which is set to result in one of the largest consumables company in history.

It also revealed it is intending to sell the London-based craft brewer Meantime, which was only purchased by SABMiller in May of this year.

A statement from the group in early December said: “AB InBev will contact potential purchasers in the coming weeks to assess their interest in the Peroni and Grolsch brand families and their associated businesses in Italy, the Netherlands and the UK”.

Walsh, who left Diageo in 2013, was said to have been joining the board of Formula 1 in January this year, but the appointment never materialised.

The statement announcing his appointment had disappeared from the website of F1’s biggest shareholder, CVC Group, by June.