DIAGEO LOOKS TO EXPAND WINE PRESENCE

Diageo is set to spend $20 million on its boutique wine business in Argentina over the next three years as a way to grow sales across Latin American and the U.S. The money will be used to upgrade Diageo’s Navarro Correas business by adding a new winery and expanding vineyards.The boutique brand currently makes 75% of sales domestically, but Diageo will look to grow sales of Navarro internationally once the brand has caught on in Latin American and the U.S.