Diageo Australia has sold UDL, the original ready-to-drink (RTD) that pioneered the category globally, and Ruski Lemon to Vok Beverages, part of the South Australian-owned Bickford’s Group of Companies.
Diageo Australia managing director, Dan Hamilton, said strong brand loyalty for the two made finding the right buyer more important.
“The decision to sell UDL and Ruski was not made lightly, but we believe it is the best way to preserve the legacy of these iconic brands and unlock future growth and innovation across Diageo’s broader portfolio,” Hamilton said.
Diageo, which also owns brands including Bundaberg Rum, Smirnoff, and Johnnie Walker is currently trying to cut costs by $777 million. Company CFO (currently acting CEO) Nik Jhangiani told employees to expect “substantial changes versus portfolio trimming”.
“In Vok Beverages, we have a partner with the vision, values, and capability to take the brands forward with the passion and pride that have defined this Australian RTD pioneer since 1965,” Hamilton said.
Vok Beverages managing director, Angelo Kotses, said the company had been producing spirits, RTDs, beer and wine at its South Australian manufacturing facility since 2002.
“We have built a passionate consumer following. We’re thrilled to be giving UDL and Ruski a bold new chapter, with exciting plans already underway to surprise, inspire, and delight both customers and consumers alike,” Kotses said.
The sale is expected to be completed by October.
