Diageo places acquisitions in Asia Pacific region ‘high’ on its agenda

Distillery group Diageo is placing acquisitions in Asia Pacific “high” on the agenda to reach a target of increasing revenue from the region to a fifth of total sales.

“We are looking at expanding our footprint in emerging markets in Asia Pacific,” said Gilbert Ghostine, president for Asia Pacific, speaking in Singapore. “We are looking at targets in emerging markets across China, India and Southeast Asia.”

Diageo wants to expand in developing markets as growth wanes in more mature regions, including Europe. The company bought Turkey’s Mey Icki raki brand for about €1.63bn last year, acquired Brazilian cachaca brand Ypioca in May and won regulatory approval to buy a Chinese maker of white spirits in March.