Diageo has sold its peach schnapps brand, Archers, to Netherlands-based De Kuyper Royal Distillers. The company said today that as part of the deal, Diageo has agreed a 24-month manufacturing supply agreement with De Kuyper.
John Kennedy, Diageo’s president, Europe, said: “We are committed to creating value for all our stakeholders through delivering consistent and efficient growth, including actively shaping our portfolio towards opportunities that will maximise growth over the long-term. We take a disciplined approach to capital allocation and this announcement continues our track-record of active portfolio management.”
Financial details were not disclosed.