Diageo completed the acquisition of Don Papa Rum for €438m.

Diageo, a British multinational alcoholic beverages company, completed the acquisition of Don Papa Rum, a super-premium, dark rum from the Philippines, for €438m. "We are excited by the opportunity to bring Don Papa into the Diageo portfolio to complement our existing rums. This acquisition is in line with our strategy to acquire high growth brands with attractive margins that support premiumisation, and enables us to participate in the fast growing super-premium plus segment," John Kennedy, Diageo President of Europe and India.