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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Diageo plc    DGE   GB0002374006

DIAGEO PLC

(DGE)
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Real-time Estimate Quote. Real-time Estimate CHI-X - 12/01 11:30:00 am
2927.75 GBX   +1.66%
11:08aMaking A Splash With Financial Reporting On Social Media
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11/27DIAGEO : Upgraded to Buy by Morgan Stanley
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11/25DIAGEO : Credit Suisse gives a Buy rating
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Diageo : to acquire Chase Distillery

10/26/2020 | 11:13am EST

Today, Diageo announces it has reached agreement to acquire Chase Distillery, the owner of Chase GB Gin and the award-winning Chase Original Potato Vodka.

Founded in 2008 by entrepreneur William Chase, the Chase Distillery portfolio includes seven gins, four vodkas and an elderflower liqueur. In addition to Chase GB Gin, a smooth, full-bodied gin, perfectly balanced with juniper, spice and citrus, Chase has created a number of flavoured gins including Pink Grapefruit & Pomelo, Seville Marmalade and Rhubarb & Bramley Apple Gin, which are leading gin innovations that are fresh, zesty and tangy in taste. The portfolio also includes Williams Elegant 48 Gin, made using 48 rare varieties of apple from 200-year old orchards.

Awarded 'World's Best Tasting Vodka' at the San Francisco World Spirits Competition, Chase Original Potato Vodka is batch produced in a copper pot still to create a smooth creamy vodka, with 250 British potatoes going into every bottle.

Sustainability and a relentless focus on quality are at the heart of everything the Chase Distillery does. The spirits portfolio is distilled from scratch using British-grown potatoes, apples and all-natural botanicals on the Chase Farm in Herefordshire. The steam energy used to run the distillery is produced on site from a biomass boiler powered by prunings from the apple orchard, with potato waste used as fertiliser to feed the Farm's cattle.

The UK is the largest gin market in Europe and between 2014 and 2019, grew at a compound annual growth rate of 17.4%1. Within the UK gin category, the premium plus segment is growing at more than twice the rate of the total UK gin category, with a compound annual growth rate of 40%2 between 2014 and 2019.

Dayalan Nayager, Managing Director, Diageo Great Britain, commented: "We are thrilled to be bringing such a quintessentially British portfolio of high quality, crafted brands into our family. We are excited about the growth opportunity within the premium plus segment and are very much looking forward to working with the Chase team to build on the portfolio's considerable potential."

William Chase, Founder and Chairman, Chase Distillery, commented: "It's inspiring to have Diageo invest in Chase Distillery's future. They believe in the potential of our field to bottle spirits and will build on our mission to develop our sustainable distillery in Herefordshire."

The acquisition is expected to close in early 2021 subject to regulatory clearances.

1IWSR 2019 Data

2IWSR 2019 Data

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(C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials
Sales 2021 11 958 M 15 975 M 15 975 M
Net income 2021 2 639 M 3 526 M 3 526 M
Net Debt 2021 13 246 M 17 696 M 17 696 M
P/E ratio 2021 25,1x
Yield 2021 2,44%
Capitalization 67 240 M 89 698 M 89 830 M
EV / Sales 2021 6,73x
EV / Sales 2022 6,28x
Nbr of Employees 27 788
Free-Float 90,8%
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 3 096,47 GBX
Last Close Price 2 880,00 GBX
Spread / Highest target 35,4%
Spread / Average Target 7,52%
Spread / Lowest Target -16,7%
EPS Revisions
Managers
NameTitle
Ivan M. Menezes Chief Executive Officer & Executive Director
Javier Ferrán Larraz Chairman
Kathryn A. Mikells Chief Financial Officer & Executive Director
Alan James Harris Stewart Independent Non-Executive Director
Nicola S. Mendelsohn Independent Non-Executive Director
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