ALCOHOL giant Diageo has swooped in for super-premium brand Don Papa Rum for £230m. The London-listed drinks company is putting up the cash with a possible £157m consideration through to 2028, subject to performance. Diageo Europe and India president John Kennedy said he was excited about the acquisition, which aligned with the group's strategy to acquire brands with "attractive margins" that allow it to participate in the "super-premium plus segment". It comes after Diageo last year snapped up Casa UM, Mezcal Union and Balcones Distilling. Diageo shares closed up 1.76 per cent on the news.

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