The spirits giant is in talks with the makers of Zacapa Centenario about acquiring a 50% stake in the brand, the company has confirmed.
Diageo, the owner of Puerto Rican spiced rum Captain Morgan and Venezuela’s Pampero and Cacique rums, signed a three-year joint marketing deal with Zacapa-owner Industrias Licoreras de Guatemala in February 2008. It’s understood the imminent completion of this contract has prompted Diageo to make a bid.
Key markets for Zacapa, which is produced from fresh sugar cane rather than molasses, are Spain, Italy and the US. Sales have surged in recent years thanks to the rising popularity of cocktails such as the Mojito, mai Tai and Daiquiri.
Focus On Spirits (04 September 2010)
Captain Morgan is given a ‘handsome and authentic’ look (24 July 2010)