Sheridan’s is a two-part coffee-cream liqueur available in over 50 countries, enjoying widespread distribution throughout Europe.
While financial details of the recent transaction remain undisclosed, this marks the second brand Diageo has divested to Casa Redondo in recent years. This follows the sale of Safari in 2024.
A transitional services agreement has been established to ensure business continuity after the completion of the sale.
Founded in 1940 by José Carranca Redondo, Casa Redondo is a third-generation Portuguese company. Its flagship brand, Licor Beirão, is the best-selling spirit brand in Portugal. Additionally, the company oversees other brands such as Aperitivo Per Se, Amarguinha, and FoxTale Gin.
For Diageo, this sale is part of a larger trend, which includes recent divestments of brands like Safari, Guinness Ghana, and Guinness Nigeria, as well as its Italian manufacturing operations.
Diageo has also recently confirmed the departure of CEO Debra Crew, a move that comes ahead of results revealing a 28% drop in operating profit.
Diageo’s president for Europe and CCO, Dayalan Nayager, commented on the deal: “The sale of Sheridan’s is another example of our sharp focus on effective portfolio management and maximising shareholder value. It follows previous European transactions including the sales of Pampero, Cacique, and Safari as we continue to concentrate on our core strengths to accelerate towards our ambition; to create one of the best performing, most trusted and respected consumer products companies in the world.”
Casa Redondo’s CEO, Daniel Redondo, remarked: “Sheridan’s is a unique brand with strong consumer recognition and an enduring identity. Bringing it into our portfolio represents a pivotal moment for Casa Redondo. This acquisition enhances our international presence and reflects our ambition to build an increasingly global business.”
Lastly, CFO Ricardo Redondo noted that the acquisition strengthens the firm’s competitive position globally. He concluded, “It also underscores our long-term commitment to sustainable growth and the development of stronger partnerships across international markets.”
