Diageo has offloaded another rum from its spirits portfolio as Cacique has followed Pampero to pastures new.
Six months on from the sale of Venezuelan rum Pampero to Gruppo Montenegro, the Captain Morgan owner has confirmed the move of Cacique, also produced in Venezuela, to Bardinet. Financial details were not disclosed in today’s announcement.
In January 2023, Diageo acquired Philippines-based Don Papa to join Captain Morgan and Zacapa on its rum books, noting to Global Drinks Intel at the time that Cacique (EUR25 per bottle) and Pampero (EUR30) both sat at the lower-priced end compared to its then-new addition, which carries an SRP of EUR40 (then-US$43).
“This is a strategic addition to our portfolio which will help us to increase our rum market share in Spain and beyond,” said Jean-Paul Bouyat, the CEO of Bardinet, which is part of the La Martiniquaise-Bardinet group. “We are looking forward to integrating this brand into our family, continuing to strengthen our offering, whilst always ensuring exceptional taste and quality.”
Bardinet already has a presence in the category through the Old Nick Caribbean and Dillon Martinique white rums. The company’s Negrita brand, which also hails from the Caribbean, is the third-largest rum in Spain.
Just before Christmas, Diageo chose not to comment on reports that its Cîroc vodka mark had also been put up for sale.
