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News
Diageo eyes Stock Spirits
Diageo has been touted as the leading contender to snap up central European spirits market specialist Stock Spirits as the world’s biggest drinks company looks to continue on the acquisition trail.
Speculation has been rife over the future of Stock Spirits – which owns Advocaat liqueur, Hammer Head whisky and Zoladkowa Gorzka, Poland’s market-leading vodka brand – since current owners Oaktree Capital Management hired Credit Suisse in November last year to oversee a strategic review of the company.
News of Diageo’s interest comes just weeks after it acquired Turkish raki giant Mey Icki for £1.3 billion. The company said at the time that it would continue to look for opportunities in central and eastern Europe. The firm hopes to find growth in emerging markets to replace sales lost in western Europe during the recession.
Lion Capital, Apax Partners and Advent International are also believed to be eyeing Stock Spirits.
Stock is headquartered in Luxembourg and has operations in the UK, Poland, the Czech Republic and Italy.
Alan Lodge, 16.03.2011