Diageo, the FTSE 100 alcoholic beverages giant, has scrapped the sale of its Pimm’s brand after failing to reach a deal with potential buyers.

Diageo has allegedly called off the sale of its Pimm’s gin-based liqueur after failing to secure an agreement with potential buyers. Sky News today (3 October) reported the Tanqueray distiller has abandoned auctioning off the British brand, a process which was said to have started earlier this year.

In addition to Pimm’s, Diageo now owns leading alcoholic drinks brands such as Guinness, Johnnie Walker, Baileys, Smirnoff and Captain Morgan. During its 2024 fiscal year, the group saw organic net sales fall by $129m year-on-year, resulting in a $304m fall in organic operating profit.

Drinks giant Diageo has scrapped a potential sale of Pimm’s, it was reported on Thursday, after it failed to strike a deal.