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Diageo has finalised the sale of its Venezuelan rum brand, Cacique, to Bardinet, a player in the Spanish spirits market.

This acquisition marks a significant shift in the competitive landscape of the rum sector, particularly in Spain and Venezuela, where Cacique has established a loyal consumer base over its 65-year history.

Diageo, known for its extensive range of premium alcoholic beverages, says that its commitment to effective portfolio management as a driving factor behind this transaction.

John Kennedy, president of Diageo Europe, commented: “The sale of Cacique reflects Diageo’s strategy of maintaining a sharp focus on effective portfolio management. We are confident that Bardinet is the right owner for Cacique, maintaining the brand’s authenticity and prominent position in Spain and Venezuela, as well as building its position in Continental Europe.”

For Bardinet, the acquisition of Cacique represents a strategic opportunity to bolster its rum portfolio and expand its market share in Spain.

Jean-Paul Bouyat, CEO of Bardinet, added: “We are excited to announce the acquisition of Cacique, a uniquely positioned Venezuelan rum with a strong heritage. This is a strategic addition to our portfolio which will help us to increase our rum market share in Spain and beyond."

As the rum market continues to grow, particularly in Europe, the implications of this acquisition will be closely monitored by industry stakeholders.

The successful integration of Cacique into Bardinet's portfolio could serve as a case study for other manufacturers looking to adapt to changing market dynamics.

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