Latin America and Caribbean: Mexican investment
Diageo is investing $400m in Mexico over five years, which will help expand local production facilities (distilling, bottling and water treatment) and increase agave farming capacity. Earlier this year it completed its acquisition of Tequila Don Julio.
Scotch performed well in the country, driving a 13% increase in net sales. Johnnie Walker net sales were up 15%, with growth across all variants but particularly in Red Label. Meanwhile scotch brand Black & White was introduced.
Elsewhere in the region: sales in Brazil, Paraguay and Uruguay were down 2% with currency weakness and a slower economy in Brazil impacting consumer spending.
