Diageo buys into Vietnam spirits group

26th Jan 2011 15:49

Drinks giant Diageo has made further inroads into emerging markets, buying nearly a quarter of Vietnamese spirits group Halico.The company behind Guinness and a host of spirits will pay about £33m for 23.6% of Halico, whose main brand is Vodka Hanoi.The two companies have also entered into a strategic partnership that will see Diageo assist Halico in areas such as branding and distribution."Halico has seen double digit growth in the last four years, but we are very keen to accelerate our development as Vietnam continues to offer attractive growth potential," said Ho Van Hai, director of Halico. "Diageo is a great partner for us - they have experience working with large local industry players and have a reputation for building iconic brands."Diageo is seeking to increase its exposure to overseas markets to profit from their strong growth. In October it completed the acquisition of a 51% stake in Tanzanian brewer Serengeti Breweries.