Diageo Plc fell short of gaining a majority holding in United Spirits Ltd. after an open bid for as much as 26 percent of the Indian distiller’s stock attracted submissions from investors owning a combined 0.4 percent stake.
The largest overseas bet on Indian consumers is spurring speculation that companies from Nestle SA to Colgate-Palmolive Co. will pursue more deals in a nation where household income is forecast to triple this decade.
Diageo Plc, the world’s biggest distiller, is concentrating on novel variants of existing brands, such as Smirnoff lemon sorbet flavored vodka, as it seeks to bolster sales growth through new products.
Diageo Plc, the world’s biggest distiller, expects products including new varieties of Johnnie Walker whisky to drive sales growth in Latin America as it targets emerging middle-class consumers and women.
Diageo Plc, the world’s largest liquor company, will expand sales of the Shuijingfang white spirit to Italy, Spain and the Middle East this year to reduce reliance on the liquor’s home market by tapping Chinese abroad.