Diageo North America Acquires Ritual Zero Proof Non-Alcoholic Spirits; Deal Has Been Funded Through Existing Cash Resources; Exact Financial Terms Not Disclosed
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Diageo North America has acquired Ritual Zero Proof, a non-alcoholic spirits company. The acquisition was funded through Diageo's existing cash resources, but the financial terms were not disclosed.
September 25, 2024 | 3:28 pm
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Diageo North America has acquired Ritual Zero Proof, enhancing its position in the non-alcoholic spirits market. The acquisition was funded through existing cash resources, with undisclosed financial terms.
The acquisition of Ritual Zero Proof by Diageo North America is likely to positively impact DEO's stock price in the short term as it expands its product offerings in the growing non-alcoholic spirits market. The use of existing cash resources indicates financial stability, and the lack of disclosed financial terms suggests a strategic move rather than a financial burden.
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