Diageo has struck a deal to sell its Sheridan’s coffee-cream liqueur brand to Portuguese drinks company Casa Redondo.
The deal, struck for an undisclosed sum, will see Sheridan’s join a lineup that includes Licor Beirão and Safari. Diageo previously offloaded the Safari liqueur brand to Casa Redondo last July.
“The sale of Sheridan’s is another example of our sharp focus on effective portfolio management and maximising shareholder value,” said Diageo’s chief commercial officer and president for Europe Dayalan Nayager. “It follows previous European transactions including the sales of Pampero, Cacique and Safari as we continue to focus on our core areas of strength to accelerate towards our ambition: to create one of the best-performing, most trusted and respected consumer products companies in the world.”
Sheridan’s is a two-part liqueur from Dublin that comes packaged in a dual container. One part contains coffee chocolate liqueur, while the other contains vanilla cream liqueur. Both carry an abv of 15% and are designed to be served layered in a single glass.
It is sold in over 50 countries and available in the UK through Bestway, as well as on specialist DTC spirits sites including Master of Malt and The Whisky Exchange.
“Sheridan’s is a unique brand with strong consumer recognition and an enduring identity,” said Casa Redondo CEO Daniel Redondo. “This acquisition strengthens our international presence and reflects our ambition to build an increasingly global business.”
Diageo is seeking to make substantial changes to its portfolio as it looks to deliver an additional $3bn in free cashflow per year from fiscal 2026.
The sale of Sheridan’s is unlikely to fit the criteria identified by then CFO and now CEO Nik Jhangiani in May, however.
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