Diageo is reportedly considering selling its Chinese assets as part of a strategic overhaul under its new chief executive, Dave Lewis. According to Bloomberg News, the Guinness and Johnnie Walker owner is working with Goldman Sachs and UBS to review its China operations amid falling sales. Diageo’s holdings include a majority stake in Sichuan Swellfun, a Shanghai-listed distributor of baijiu whose shares have dropped sharply over the past year. Lewis, who took over in January and previously led turnarounds at Unilever and Tesco, is known for aggressive cost-cutting and portfolio simplification. Diageo faces multiple pressures, including weaker Chinese demand, high debt, shifting consumer attitudes to alcohol, and the impact of tariffs linked to Donald Trump. The potential China sale follows Diageo’s recent agreement to sell its stake in East African Breweries to Asahi Group, underscoring a broader effort to refocus the world’s largest spirits maker.
Diageo Considers Selling Chinese Assets as New CEO Moves to Streamline Business
By OMN AI
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