Diageo has today signed and completed the sale of Windsor Global, a subsidiary of Diageo which owns the Windsor business and associated intellectual property. Buyer is PT W Co., Ltd., a Korean company sponsored by Pine Tree Investment & Management Co., Ltd., South Korea's leading alternative investment firm.
The transaction includes the sale of 100% of the shares of Windsor Global from Diageo Atlantic B.V. to PT W Co., Ltd.
In September 2022, Diageo informed that its attempt to sell the Windsor business including the W series, to the Bayside Private Equity and Metis Private Equity consortium failed, because the potential buyer was not able to meet certain conditions for completion which formed part of the sales agreement announced on 25 March 2022.
John O'Keeffe, President, Asia Pacific, Global Travel and India for Diageo said now: “This transaction reflects Diageo’s disciplined approach to capital allocation and further highlights our continued track-record of active portfolio management. We remain fully committed to Korea and our international spirits and beer business. Our position in the market remains strong as premiumisation trends persist and consumer interest in categories like international whisky continues to grow.”