Diageo has agreed to sell its Sheridan’s brand to Portuguese drinks firm Casa Redondo as part of a portfolio shakeup to focus on its core products.
Sheridan’s is a long-established, two-part coffee-cream liqueur that is available in over 50 countries and widely distributed across Europe.
Financial terms of the deal were not disclosed.
Dayalan Nayager, Diageo’s President for Europe and Chief Commercial Officer, commented: “The sale of Sheridan’s is another example of our sharp focus on effective portfolio management and maximising shareholder value. It follows previous European transactions, including the sales of Pampero, Cacique and Safari as we continue to focus on our core areas of strength to accelerate towards our ambition; to create one of the best performing, most trusted and respected consumer products companies in the world.”
Daniel Redondo, CEO of Casa Redondo, added: “Sheridan’s is a unique brand with strong consumer recognition and an enduring identity. Bringing it into our portfolio represents a pivotal moment for Casa Redondo. This acquisition strengthens our international presence and reflects our ambition to build an increasingly global business.”
Last month, Diageo announced that it was raising its cost-savings target after forecasting a worse-than-expected hit to its profits from US tariffs in the year ahead.
