UPDATE 1-Diageo weighing options for noncore wine assets

* Diageo to restructure US wine business

* Says exploring options including asset sales

NEW YORK, May 12 (BestGrowthStock) – Diageo Plc (DGE.L: ) said it is
exploring options to restructure its U.S. wine business,
including possibly selling some of its non-core assets.

The London-based company said on Wednesday that its aim is
to create an “efficient, entrepreneurial wine business,”
focusing on core strategic brands such as Beaulieu Vineyard
wines, Sterling Vineyards, Chalone, Acacia, Rosenblum Cellars
and Provenance.

“This will mean that some jobs will be eliminated.
Additionally, we are looking at all options to get the most out
of our non-core assets, including selling some of them,” the
company said in a statement.

Aside from the core brands, Diageo’s other wine brands
include Barton & Guestier, Blossom Hill, Justerini & Brooks,
Piat d’Or.

Investing Analysis

(Reporting by Martinne Geller; Editing by Tim Dobbyn)

UPDATE 1-Diageo weighing options for noncore wine assets