
Multinational firm announces acquisition of Don Papa Rum
Diageo, a multinational alcoholic beverage company, has announced that it has reached an agreement to acquire Don Papa Rum, a super-premium, dark rum produced in Negros Occidental.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 brand’s current growth potential, Diageo said in a press release posted on its website on Tuesday, January 17.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 percent in Europe and 27 percent in the US between 2016-2021. Through the same period, Don Papa Rum consistently outperformed the market in Europe, delivering a 29 percent CAGR, the press release said....









