Diageo has been on an acquisition streak this fall, picking up Aviation gin in August and Chase Distillery in October, but it’s not closing up shop yet. Diageo CEO Ivan Menezes told CNBC that the company’s acquisition strategy is driven by the ongoing trend for premiumization, which has held steady during the pandemic.
“We want to keep adding to the growth and margin profile of the business by acquiring fast growing brands with high margins at the premium end of the market … and we’re on the hunt for more. But it is about finding quality brands that we can see growing well over a decade,” said Menezes.
Source: CNBC, November 2020