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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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