As the owner of many of the global leaders in alcoholic beverages (think Ciroc, Smirnoff, and Tanqueray), Diageo has made a number of savvy acquisitions and sell-offs, expanding its portfolio beyond Europe and into the Americas, the Middle East, and Asia.

Over the past decade, however, it has had to face the rise of craft and independent brewing, with companies like Brewdog becoming new competitors. Rather than acquiring these craft beer companies, Diageo has focused on branding Guinness in a way that fits the craft mould. This involved initiatives like The Brewers Project.

During the early 2020s, Diageo also weathered an alcohol sales decline and has bounced back with a renewed focus on cold brew coffee liqueurs and Guinness blends, as well as further acquisitions that have included that of actor Ryan Reynolds’ Aviation Gin