Diageo acquires Turkish spirits firm for €1.54bn

GLOBAL drinks giant Diageo has remained true to its word of targeting bolt-on acquisitions in emerging nations as its preferred growth route — by announcing the £1.3bn (€1.54bn) takeover of Turkey’s leading spirits company Mey Icki.

The deal marks Diageo’s single biggest international acquisition in more than a decade and also gives the group the chance to push its premium drinks brands in a rapidly growing drinks market.

Turkey is also one of the fastest growing world economies, with an increasingly affluent middle class and rising consumer spending patterns, which are forecast to increase at double the rate of the nation’s GDP growth.