Diageo has terminated the conditional agreement to sell its Windsor whisky business to private-equity consortium Bayside/Metis.
In March, Diageo agreed to sell its premium Scotch whisky brand for KRW 200 billion (approx. £124 million).
Under the agreement, Diageo would supply its Windsor whisky to Bayside/Metis for ten years. However, the drink giant said that the consortium was “unable to meet certain conditions for completion, which formed part of the sales agreement”.
Windsor Global will continue to operate the Windsor business under an independent entity from Diageo Korea.
© FoodBev Media Ltd 2022
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