Diageo Sells Sheridan’s Coffee-Cream Liqueur to Casa Redondo 

PORTUGAL – Diageo has announced the sale of its coffee-cream liqueur brand Sheridan’s to Casa Redondo, a Portugal-based beverage group, marking another significant shift in its product portfolio.  

The transaction follows Casa Redondo’s acquisition of Diageo’s fruit-flavored liqueur Safari in July last year. Financial terms of the deal have not been disclosed. 

Sheridan’s, distributed in more than 50 countries and particularly strong in Europe, has been a distinctive part of Diageo’s liqueur offerings.  

The company stated that the move aligns with its broader strategy of managing its portfolio to maximize shareholder value and focus on core strengths. 

Dayalan Nayager, president of Diageo’s European business and chief commercial officer, emphasized that the sale reflects Diageo’s continued ambition to become one of the most trusted and respected consumer products companies globally. 

Daniel Redondo, CEO of Casa Redondo, described Sheridan’s as a unique and recognizable brand. He said the acquisition strengthens Casa Redondo’s international presence and supports its goal of building a more global beverage business. 

The divestment of Sheridan’s follows other recent disposals by Diageo. Over the past 14 months, the company has also sold rum brands Cacique and Pampero. Earlier this year, Diageo sold two Australian ready-to-drink brands to Vok Beverages. 

In May, then-chief financial officer Nik Jhangiani highlighted the company’s plans to make significant changes to its product portfolio through asset disposals. He noted these steps were part of a wider plan to save around US$500 million in costs over three years, a target raised last month to US$625 million. 

For the fiscal year ending June, Diageo reported net sales of US$20.25 billion, down 0.1% from the previous year but up 1.7% on an organic basis.  

Reported operating profit fell 27.8% to US$4.34 billion due to impairment charges, restructuring costs, and unfavorable exchange rates, while net profit dropped 39.1% to US$2.54 billion. 

Diageo has also drawn attention for recent strategic moves, including its review of the East African Breweries business and the planned closure of a Crown Royal whisky bottling facility in Canada next year. 

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