Diageo has agreed to sell its 80.4% shareholding in Guinness Ghana Breweries to Castel Group for $81m (£65.1m).
The offload to Castel would drive “greater efficiency and profitability” for Diageo in Africa, the London-based drinks giant said.
Castel Group already owns Guinness Cameroon, having acquired the unit back in 2022, and is a partner to Diageo in 11 other African markets.
Diageo will retain ownership of the Guinness brand and other brands currently produced by Guinness Ghana, licensing them to the company under a new long-term licence and royalty agreement.
“Diageo’s flexible and asset-light beer operating model allows it to select the most appropriate structure and route to market based on local conditions, supporting greater efficiency and profitability, while Diageo continues to drive the brand and marketing strategy,” the group said on Tuesday (28 January).
Guinness Ghana was “performing strongly” and “powered by a fantastic team of people”, said Dayalan Nayager, Diageo’s chief commercial officer and president in Africa.
“Through this transaction, I look forward to the Guinness brand continuing to thrive and delivering further growth,” he said. “I am excited to extend our partnership with Castel, a long-term partner in the region with a proven track record.”
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The divestment follows Diageo’s sale of its shareholding in Guinness Nigeria to Tolaram Group in September 2024, and its establishment of a wholly-owned dedicated spirits company in West Africa in October 2023.
Diageo denied speculation it was planning to offload Guinness over the weekend, after a Bloomberg report said the brand could be sold or spun off as part of a wider review of the group’s drinks portfolio.
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