date:Jan 18, 2023
Diageo has reached an agreement to acquire Don Papa Rum, a super-premium, dark rum from the Philippines. The upfront consideration is 260 million with a further potential consideration of up to 177.5 million through to 2028 subject to performance, reflecting the brands current growth potential.
The super-premium plus segment of the rum category is in the early stages of premiumisation, with a compound annual growth rate (CAGR) of 18% in Europe and 27% in the US between 2016-2021. Through the sa