Diageo to Acquire Don Papa Rum for About $282 Million

Dear Client:  Today Diageo announced it has reached an agreement to acquire super-premium Don Papa Rum for a little over $282 million, with a further potential consideration of about $192.6 million through 2028 subject to performance, per release. Don Papa Rum launched in 2012 by Stephen Carroll. The Philippines-based rum is currently available in 30 countries. The rum is distilled and aged on the island of Negros Occidental in American oak barrels. "Diageo has a strong track record in nurturing founder-led brands,"