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Wednesday, November 26, 1997 Published at 18:38 GMT



Business

Shareholders back Guinness-GrandMet merger
image: [ Guinness shareholders agreed to merger ]
Guinness shareholders agreed to merger

Shareholders of British drinks giants Grand Metropolitan and Guinness have approved the two companies' merger into the world's largest wine and spirits producer.

Diageo, as the combined entity will be known, will have annual sales of 13bn selling famous brands such as Smirnoff vodka, Johnnie Walker and JB whiskies.

The merged company will have greater sales in the spirits market than those of its two biggest rivals, Seagram of Canada and Allied Domecq of Britain.

Diageo will also be a major force in the beer market through names such as Guinness, and active in the fast-food business through Burger King and convenience foods via Pillsbury, both owned by GrandMet.






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