Diageo PLC, the multinational beverage alcohol company, has agreed to sell its 80.4% stake in Guinness Ghana Breweries Limited to Castel Group for US$81 million.
The deal, structured as 5.15 Ghanaian cedis per share and payable in US dollars, is expected to close in 2025, pending regulatory approvals.
This move aligns with Diageo’s “flexible and asset-light” business model. The company has been strategically divesting from certain African markets while retaining ownership of core brands like Guinness.
Similar divestitures include the sale of Guinness Nigeria to Tolaram in September 2024, the exit from Meta Abo Brewery in Ethiopia, and the sale of Guinness Cameroon to Castel in 2022.
Despite the sale, Diageo will maintain a strong presence in Ghana.
The company will enter into new license and royalty agreements with Castel, ensuring the continued brewing, production, and distribution of Guinness and other Diageo brands currently produced by Guinness Ghana, including Malta, Orijin, Smirnoff Ice, and Alvaro. Guinness Ghana will also remain listed on the Ghana Stock Exchange.
“Guinness Ghana is performing strongly, powered by a fantastic team of people,” said Dayalan Nayager, Diageo Africa president and chief commercial officer.
“Through this transaction, I look forward to the Guinness brand continuing to thrive and delivering further growth. I am excited to extend our partnership with Castel, a long-term partner in the region with a proven track record.”
Castel CEO Gregory Clerc highlighted the strategic importance of the acquisition, stating, “This acquisition exemplifies the entrepreneurial spirit that drives Castel and marks a new milestone in our growth ambition. It reflects our ability to go where we are least expected, exploring new horizons on a continent full of opportunities. With this 22nd African country, we reaffirm our dynamism, our boldness, and our confidence in Africa’s potential.”
Diageo’s remaining African footprint includes East African Breweries Limited (Kenya, Tanzania, and Uganda) and Diageo South West Central.
Globally, the company operates in 34 countries with a network of beer and spirits distributors.
