Diageo has announced the sale of the Sheridan's brand to Portuguese company Casa Redondo, strengthening its strategy of focusing on its core portfolio. Sheridan's, an iconic liqueur characterized by its double-walled bottle filled with coffee and cream, is distributed in over 50 countries and enjoys widespread popularity, especially in Europe.
Dayalan Nayager, President of Europe and Chief Commercial Officer at Diageo, explained: “The sale of Sheridan's is a further example of our focus on targeted portfolio management and maximizing shareholder value. It follows the recent sales of Pampero, Cacique, and Safari, with the aim of strengthening our areas of excellence and accelerating our ambition to become one of the world's best-performing and most respected consumer goods companies.”
For Casa Redondo, a family-run business established in 1940 and already owner of the renowned Licor Beirão, the acquisition represents a turning point. CEO Daniel Redondo commented: “Sheridan's is a unique brand with strong consumer recognition and an enduring identity. Its addition to our portfolio marks a crucial moment in our international growth.”
CFO Ricardo Redondo also underlined the importance of the transaction: “This step consolidates our position as a competitive global player and reaffirms our commitment to sustainable growth and building solid partnerships in international markets.”
To ensure operational continuity, the two companies have signed a Transitional Services Agreement that will accompany the change of ownership. With this acquisition, Casa Redondo continues to strengthen its portfolio, following the recent addition of the Safari brand, also from Diageo. The Portuguese company thus confirms its international vocation, adding new global labels to traditional brands such as Amarguinha and FoxTale Gin.
