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Article: World records business sold for $63 million
- Article from:
- Charleston Gazette
- Article date:
- July 2, 2001
- Author:
CopyrightCopyright 2001 Charleston Gazette. Provided by ProQuest LLC. (Hide copyright information)
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LONDON - Drinks company Diageo Plc has agreed to sell its
Guinness World Records business for $63 million in cash, the company
said Sunday.
The business, which compiles, accredits and publishes information
on world records, will be bought by media company Gullane
Entertainment Plc.
Although Diageo owns the Guinness brewing business, Gullane will
keep the name for use with the world records title.
Created by the merger of Guinness and GrandMet in 1997, Diageo is
the world leader in wines and spirits, with labels including
Smirnoff, Johnnie Walker, Gordon's and Baileys. Last year it linked
up with Pernod Ricard of France to buy Seagram's wine and spirits
business for $5 billion.
"The sale of ...