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Diageo sells majority stake in Guinness Ghana Breweries to Castel Group

Kevin Cheruiyot by Kevin Cheruiyot
January 30, 2025
in Business
Reading Time: 2 mins read

Diageo PLC, the parent company of East African Breweries, has reached an agreement to sell its 80.4% stake in Guinness Ghana Breweries to the Castel Group. This transaction, valued at approximately USD 81.0 million, aligns with Diageo’s “flexible and asset-light” business model, aimed at streamlining its operations while maintaining brand presence.

The deal, priced at 5.15 Ghanaian Cedis per share, will be executed in US dollars based on an agreed exchange rate between the two companies.

This development comes after Diageo sold its stake in Guinness Nigeria Plc to Tolaram in September 2024 to boost Guinness’ growth in Nigeria. Additionally, in October 2023, the company established a wholly-owned spirits subsidiary to enhance its premium spirits business and expand its reach across West Africa. Earlier, in July 2022, Diageo also divested Guinness Cameroon to Castel.

Diageo and Castel will enter into new licensing and royalty agreements, enabling Guinness and other Diageo brands to continue being brewed, produced, and distributed in Ghana. Guinness Ghana Breweries’ product portfolio includes Guinness, Malta, Orijin, Smirnoff Ice, and Alvaro.

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Importantly, Guinness Ghana Breweries will remain listed on the Ghana Stock Exchange, preserving its public trading status.

Diageo, a global beverage giant listed on both the London and New York Stock Exchanges, continues to maintain a strong presence in Africa. The company retains investments in East African Breweries—spanning Kenya, Uganda, and Tanzania—as well as Diageo South West Central. Diageo is present in 34 countries with strategic beer and spirits distributors.

Meanwhile, Castel Group, a French multinational beverage company, has a significant footprint across West and Central Africa. It already collaborates with Diageo in 11 other markets in Africa.

Commenting on the news Dayalan Nayager, President Diageo Africa and Chief Commercial Officer, said:“Guinness Ghana is performing strongly powered by a fantastic team of people. Through this transaction, I look forward to the Guinness brand continuing to thrive and delivering further growth. 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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