Diageo sells Barton & Guestier
- Wednesday 21 July 2010
The sale, which covers the company’s brands, inventory and land, including Chateau Magnol, comes as the UK drinks giant continues a wholesale review of its Diageo Chateau & Estate wine operations.
It follows the company’s announcement last month that it was selling and leasing back its Sterling Vineyards and Beaulieu Vineyards wineries in Napa Valley, along with about 2,000 acres of vineyards.
But the company said it still had a ‘long-term commitment’ to the wine business, pledging to continue to import fine wines to the US from France and other countries.
The move effectively signals Diageo’s exit from the Bordeaux wine business in the US, but the company will continue to deal in the region’s wines in other markets, through its Vignobles Internationaux SA (VISA) and Justerini & Brooks businesses.