New joint venture formed to distribute Santiago de Cuba rum

European Diageo subsidiary and Corporación Cuba Ron, a leader in the production of premium Cuban rums created a joint venture, Ron Santiago, that will have exclusive global distribution rights to Santiago de Cuba, a premium Cuban heritage rum brand. Financial terms were not disclosed. Santiago de Cuba, the second largest premium Cuban rum, will join Diageo Europe’s portfolio of Reserve luxury spirits, building on the trend towards premiumisation and the cocktail culture which are driving growth in key cities and resorts across Europe. "The joint venture with Corporación Cuba Ron is in keeping with our strategy to invest behind growth opportunities in premium and above brands. Consumers are looking for new and authentic experiences and working with Corporación Cuba Ron provides a great opportunity to expand our portfolio in segments of the rum category whose growth is being driven by premiumisation globally and in Europe." Dayalan Nayager, Managing Director, Diageo GB, Ireland and France.