(Reuters) – Diageo (LON:) does not intend to sell its Guinness beer brand or its stake in Moët Hennessy, the beverage unit of LVMH, the world’s largest spirits maker said on Sunday.
On Friday, Bloomberg News reported that the company was exploring options for Guinness, the star in Diageo’s portfolio, as well as reviewing its investment in Moët Hennessy. The report said that the value of the Guinness Book of Records could reach more than $10 billion.
“We have noted the recent media speculation around the Guinness brand and our stake in Moët Hennessy, and can confirm that we have no intention of selling either,” Diageo said in a statement. The company also said it will provide further updates on its business with interim results on February 4.
Guinness is an exception in Diageo’s business, which consists mostly of spirits rather than beer, but its recent performance has outperformed major liquor brands, such as Johnnie Walker whisky.
Spirits sales have faced difficulties after the post-pandemic boom in demand for expensive alcoholic beverages subsided. Meanwhile, Guinness sales have grown by double digits every year since 2021, with its non-alcoholic version also rising.
