Liquor maker Diageo is reportedly looking to sell a portion of its portfolio, specifically its Canadian whisky brand Seagrams VO, Goldschlager, Myers’s rum, Popov vodka, and Samba brand Romana, reports MarketWatch.
Diageo is reportedly trying to sell the brands as part of a single transaction, which means they will likely go to a private equity firm. It has hired Centerview Partners to sell the brands and expects the sale to net proceeds of up to $1 billion. The sale might also include additional brands.
According to people familiar with the matter, the move is to allow the liquor maker to focus its attention on its pricier brands that are seeing a higher amount of growth. Diageo’s portfolio also includes Johnnie Walker, Smirnoff, and Tanqueray, amongst others.
In recent years, Diego has also sold off its wine portfolio, and Gleneagles, a golf resort it owned in Scotland.
Last year, Diageo paid $1 billion to acquire George Clooney’s tequila brand Casamigos.