Sheridan’s is a two-part coffee-cream liqueur that is currently available in more than 50 countries and is widely distributed across Europe.
No financial details of the deal have been disclosed, with Sheridan’s representing the second brand that Diageo has sold to Casa Redondo in recent years following the sale of Safari in 2024.
A transitional services agreement has been agreed to enable continuity of the business post completion.
Casa Redondo is a third-generation Portuguese company founded in 1940 by José Carranca Redondo. The company’s flagship brand is Licor Beirão, the best-selling spirit brand in Portugal, while it also manages Aperitivo Per Se, Amarguinha and FoxTale Gin.
For Diageo, this represents just the latest in a string of sales including Safari, Guinness Ghana, Guinness Nigeria and its Italian manufacturing operation.
The firm recently confirmed the departure of CEO Debra Crew, a move the came ahead of results which showed a 28% fall in operating profit.
Commenting on the deal, Diageo president for Europe and CCO, Dayalan Nayager, said: “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 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.”
Daniel Redondo, CEO of Casa Redondo, added: “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 strengthens our international presence and reflects our ambition to build an increasingly global business.”
Finally, Casa Redondo CFO Ricardo Redondo said that the deal consolidated the firm’s position as a competitive global player.
“It also underlines our long-term commitment to sustainable growth and to building stronger partnerships across international markets,” he concluded.
