Diageo made a deal with Nolet to form a 50/50 company that will control the rights to Kettle One Vodka and Citroen. Diageo bought its stake for $900M. The stock continues to slide as investors are not thrilled with the deal and the US economy remains in a slowdown.
On Oct. 16, Diageo said that sales growth slowed in the quarter from July to September but they are still confident in their full-year target for operating profit to rise by 9 percent. "The guidance on profit was reassuring, but the lower sales growth hit a few nerves," one industry analyst said.