Diageo is reported to be in the process of proposing a 12bn euro bid for the wine & spirits division of LVMH. LVMH which owns fashion labels Luis Vitton, Fendi, Donna Karen and others is rumoured to be willing to sell off its drinks business with the aim of further investment and aquisitions in the fashion market.
Diageo, which has already adopted joint ventures with LVMH in some markets, would attain several high profile brand names as a result of any aquisition including champagne labels Moet & Chandon, Krug and Dom Perignon. Goldman Sachs have been employed to manage the discussions and valuations. Negotiations are thought to be at an early stage.
Here’s a behind the scenes look at the recent campaign by Moet & Chandon which featured actress Scarlet Johannsson.
