Diageo bids for vodka maker Stock Spirits

By Daily Mail Reporter
Updated:

 

Diageo wants to line up more brands in its burgeoning drinks cabinet, such as Wódka Zoladkowa Gorzka, owned by Stock Spirits Group.

The Smirnoff and Guinness giant has got through to the second round of a £500m auction for Stock, Central Europe's biggest drinks firm which owns 40 brands including Poland's premium Czysta de Luxe vodka.

Weeks earlier, Diageo paid £1.3bn for Turkey's biggest spirit maker Mey Içki, with 80% of the market for the country's aniseed drink, raki.

Diageo needs to offset weak performance in downturn-hit Europe with acquisitions in emerging markets. Its half-year update last month showed sales for Europe down 3p%.

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