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Diageo incurred 2-mn-pound loss on sale of India wine business in FY20

Talking about consumption preferences, Diageo said consumers who drink alcohol are increasingly choosing spirits over beer and wine

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Diageo-owned liquor firm United Spirits Ltd (USL) had sold its entire equity stake in Four Seasons Wines as well as associated brands to Grover Zampa Vineyards and Quintela Assets for Rs 31.86 crore.

Press Trust of India New Delhi

2 min read Last Updated : Aug 23 2020 | 1:33 PM IST

World's leading spirits maker Diageo incurred a loss of 2 million pounds on sale of its Indian wine business last year, the company's annual report has said.

Diageo-owned liquor firm United Spirits Ltd (USL) had sold its entire equity stake in Four Seasons Wines as well as associated brands to Grover Zampa Vineyards and Quintela Assets for Rs 31.86 crore.

"The disposal of the Indian wine business has resulted in an exceptional loss of 2 million pounds," Diageo said in its Annual Report 2020.

Talking about consumption preferences, Diageo said consumers who drink alcohol are increasingly choosing spirits over beer and wine.

"This is

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