Guinness Ghana Now Fully Owned by Castel After Diageo Offloads 80.4% Stake

Diageo Holdings Netherlands B.V. has completed the sale of its entire shareholding in Guinness Ghana Breweries PLC (GGBL) to the Castel Group, ending its decades-long involvement with the Ghanaian brewer. 

The transaction, completed on July 3, involved the transfer of 247,291,361 ordinary shares, representing 80.4% of Guinness Ghana’s issued shares and voting rights.

Executed as a Free of Payment (FoP) transaction on the Ghana Stock Exchange, the sale means Diageo no longer holds any ownership in GGBL. The company confirmed the divestment in line with Rule 55 of the Ghana Stock Exchange Listing Rules, 2006.

In a brief statement, Diageo said: “Pursuant to this, Diageo Holdings Netherlands B.V. is no longer a shareholder in GGB.”

Castel Group, a major French beverage conglomerate with a significant footprint across Africa, now assumes full control of one of Ghana’s most prominent breweries. The acquisition adds Guinness Ghana to Castel’s growing portfolio on the continent, although no official details about post-sale integration or leadership changes have been announced.

Earlier this year, Diageo announced that it was shifting toward an “asset-light” model for its beer operations in Africa, a strategy, according to Reuters, designed to help the company adapt more flexibly to local market conditions. The sale of its Guinness Ghana stake, valued at $81 million, is part of this broader transition.

Though Diageo is no longer a shareholder, it will retain ownership of the Guinness brand and other Diageo products brewed locally, including some spirits. These brands will now be produced under licence by Guinness Ghana, ensuring their continued presence in the Ghanaian market.

This divestment follows similar moves elsewhere on the continent. Diageo sold its interest in Guinness Cameroon to Castel in 2022 and exited Guinness Nigeria in 2024. In 2023, it also created a dedicated spirits-focused company to strengthen its premium offerings in Africa. Diageo has denied recent reports suggesting it was looking to sell the Guinness brand itself, reaffirming its commitment to retaining ownership and licensing rights.

The deal reflects Diageo’s global strategy of focusing more tightly on premium spirits and core markets. Guinness Ghana, known for products such as Guinness Foreign Extra Stout and Malta Guinness, continues to play a vital role in Ghana’s beverage sector, with major production sites in both Kumasi and Accra.

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