Spirits giant Diageo has agreed to sell its 80.4% shareholding in Guinness Ghana to Castel Group for $81 million, the company announced on Tuesday.
This move continues Diageo’s strategy of refining its operating model in Africa, following the sale of its stakes in Guinness Nigeria and Guinness Cameroon in recent years.
Under the agreement, Diageo will retain ownership of the Guinness brand and other Diageo brands currently produced by Guinness Ghana.
These brands will continue to be produced by Guinness Ghana under new licensing and royalty agreements.
Diageo has been pursuing an “asset-light” beer operating model in Africa, focusing on building strong partnerships while adapting to the evolving market dynamics.
The company recently denied reports that it was considering selling the iconic Guinness brand.
This transaction marks another step in Diageo’s ongoing efforts to optimize its business operations in the African market.