Diageo divests Pampero Rum to Gruppo Montenegro 

ITALY – Diageo, a global leader in premium drinks, has announced the sale of Pampero rum to Gruppo Montenegro, a prominent Italian company in the premium spirits and food sectors.  

Pampero, a Venezuelan rum brand, holds the position of the number one rum by volume in Italy and maintains a robust presence across other continental European markets, according to Diageo. 

John Kennedy, President of Diageo Europe, emphasized that this strategic move will allow the company to concentrate on its core strengths within its portfolio.  

“This demonstrates our disciplined and strategic approach to capital allocation,” Kennedy stated. He also expressed confidence in Gruppo Montenegro’s ability to nurture and expand Pampero’s market presence in Italy and across Europe. 

Gruppo Montenegro, headquartered in the Zola Predosa commune in Italy, boasts a diverse portfolio of spirits brands, including liqueurs like Amaro Montenegro, Rabarbaro Bergia, Grappa Libarna, and Edgar Sopper London Dry Gin.  

Kennedy added, “Pampero is well positioned for its next chapter of growth, and we believe Gruppo Montenegro is the right owner to maintain and build on Pampero’s authenticity and leading position.” 

This transaction follows Diageo’s recent sale of the fruit-flavored liqueur brand Safari to Portuguese drinks group Casa Redondo earlier this month. Kennedy noted that the sale of Safari aligns with Diageo’s strategy to focus on top-performing areas, including tequila and whisky. 

Paul Douek, Gruppo Montenegro’s Executive Board Member, said, “We are pleased that this milestone has been achieved following the appointment of Gruppo Montenegro’s new Chief Executive, Sergio Fava. The acquisition of Pampero marks a new pivotal phase for Gruppo Montenegro as we fortify our global expansion with our new leadership team.”  

Fava took over as CEO in July 2023, succeeding Marco Ferrari, who moved to Ilva Saronno Group as CEO. 

Reports earlier this year suggested Diageo was seeking buyers for Safari, Pampero, and its UK liqueur brand Pimm’s, with advisers from investment bank Rothschild assessing the sale of these brands. 

In Africa, Diageo has divested its 58 percent stake in Guinness Nigeria to Singapore-based consumer goods company, Tolaram Group.  

Despite the stake sale, Guinness Nigeria will retain the rights to manufacture and distribute the Guinness brand and other Diageo brands, including Johnnie Walker, Singleton, and Baileys. 

Diageo announced the creation of a “new model for Guinness in Nigeria,” collaborating with Tolaram under new, long-term license and royalty agreements for its locally manufactured ready-to-drink and mainstream spirits products.  

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