Diageo presses ahead with wine sale

Diageo, the company behind Captain Morgan rum and Smirnoff vodka, is believed to be pressing ahead with a sale of its wine brands, including Blossom Hill, as its under-pressure boss Ivan Menezes continues his sell-off of the group’s peripheral businesses. Australian firm Treasury Wine Estates was named as a leading suitor for the FTSE 100 company’s wine business, which also encompasses the Piat d’Or and Rosenblum brands.