USA: Diageo - abandoning house(s) - COMMENT (Members)
Diageo has announced the sale of its Croft and Delacorte port and sherry brands. The wine industry may believe that if you make it, people will drink it. But the world's biggest spirits company does not agree, indirectly admitting that wine cannot efficiently compete with beer and spirits in the drinks market. The sale, part of Diageo's strategy of focusing entirely on premium but high-volume brands, looks like the best move for the company.
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