Diageo has sold its shareholding in Edward Dillon, the Irish drinks distributor, for an undisclosed sum, according to media reports.

The owner of the Guinness brand is said to have had a 30% stake, which is now being bought by the firms other stakeholders Bacardi, Brown-Foreman and Moet-Hennesy.

Diageo will now distribute brands such as Godron’s Gin and Black & White Whisky itself.