Tough day for Diageo
Two news reports covered by the Buffalo Trace newsletter made me feel badly for Diageo.
The first, as predicted by many industry observers including yours truly, is that India’s United Spirits Ltd. has become the world’s largest liquor company by sales volume.
No big deal you say. But what about this?
The Sunday Times reports that the Beckmann family has reportedly held discussions about selling the business for shares of Diageo stock instead of cash. If correct, it would make the family the largest shareholder with 10%. That would give them the right to express opinions about how all the brands are run. Too scary to contemplate.