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Benzinga
Benzinga
Business
Shivani Kumaresan

Diageo Plans New Distillery For Crown Royal Canadian Whisky Brand

DEO Diageo Plc NYSE
  • Diageo Plc (NYSE:DEO) plans for a new C$245 million distillery to support its Crown Royal Canadian Whisky brand.
  • The facility will have a capacity to produce up to 20 million LAA's (liters of absolute alcohol the equivalent to 10.5 million proof gallons) annually.
  • The facility will sit on approximately 400 acres in Ontario's St. Clair Township and includes a distillery, blending, and warehousing operations.
  • The company expects the new facility to be operational in 2025, with construction anticipated to begin in the second half of 2022.
  • Price Action: DEO shares are trading higher by 4.49% at $185.88 on the last check Wednesday.
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