Diageo optimism on new markets

London: Diageo, the maker of Guinness and Bushmills whiskey, said sales from Africa and Latin America will probably double over the next five years as it increases investment and local production.

The London-based distiller’s international unit – which spans Africa, Latin America and global travel – is spending proportionately more than any of Diageo’s other business divisions on expansion, said Stuart Fletcher, president of the unit. The distiller is considering acquisitions to enter markets including Ethiopia, Angola, and the Democratic Republic of the Congo, and to expand in markets such as Brazil.

“Over a five-year period we can double our Africa and Latin American businesses organically, and then there’s the M&A opportunity on top of that,” Fletcher said. “M&A and business expansion is higher in Africa than just about anywhere else for Diageo.”