History
Diageo was formed in 1997 from the merger of Guinness and Grand Metropolitan. The creation was driven by the executives Anthony Greener and Philip Yea at Guinness plus George Bull and John McGrath of Grand Metropolitan. Shares in Diageo began trading on the London Stock Exchange on 17 December 1997.
Diageo owned Pillsbury until 2000 when it was sold to General Mills. In 2002, Diageo sold the Burger King fast food restaurant chain to a consortium led by US firm Texas Pacific for $1.5 billion.
In February 2011 Diageo agreed to acquire the Turkish liquor company Mey Icki for US$2.1 billion.
In May 2012 Diageo agreed to acquire Ypioca, the largest-selling brand of premium cachaça in Brazil, for £300 million.
In June 2012 Diageo announced a £1 billion investment in Scotch whisky production over the following five years, with at least one new distillery to be constructed, several existing facilities to be expanded, and overall production capacity to be increased by 30 to 40 per cent.
In November 2012 Diageo agreed to acquire a 53.4% stake in the Indian spirits company United Spirits for £1.28 billion.
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