Diageo reported to have called off Pimm’s sale

Nov - Food Bev - Website Banner - TIJ vs TTO 300x250.gif

Access more as a FoodBev subscriber

Sign up to FoodBev and unlock more insights from the international food and beverage industry. Subscribers have access to webinars, newsletters, publications and more...

Subscribe now >

Diageo has reportedly called off the sale of its Pimm’s brand after failing to agree on a transaction with potential buyers, according to Sky News.

In February 2024, Diageo was reported to be seeking a buyer for the English gin-based liqueur alongside two of its other brands, Pampero rum and the Safari fruit liqueur.

The alcohol giant confirmed the sale of Safari to Casa Redondo, a Portuguese beverage company, in early July, followed by an announcement that it had agreed to sell Pampero to Italian food and spirits specialist Gruppo Montenegro later that month.

However, a report from Sky News published yesterday (3 October 2024) said that Diageo has now abandoned an auction process said to have begun earlier this year, with the specific reasons for the failure to reach a deal ‘unclear’.

The company acquired Pimm’s in 1997 as part of the tie-up between Grand Metropolitan and Guinness, which resulted in Diageo’s establishment. The popular British summer drink was created in 1840 in London by James Pimm, crafted using a ‘secret recipe of gin, herbs and liqueur’.

Diageo declined to comment on the reports when approached by FoodBev.