Sullivan toasts drinks giants’ tie-up

Sullivan & Cromwell has cemented its relationship with drinks giant Diageo, advising the company on its $900m (£456.5m) joint venture with Dutch distiller Ketel One.

The deal will allow Diageo, which owns Smirnoff vodka, to distribute Ketel One’s premium vodka brand to a global market with an emphasis on the US.

Sullivan & Cromwell fielded a large team to act on the purchase, including London M&A partner Richard Morrissey and New York partner Frank Aquila. The deal saw Diageo secure 50 per cent of Ketel One from the Dutch Nolet family.

Ketel One was represented by local firm De Brauw Blackstone Westbroek and Wilson Sonsini Goodrich & Rosati in the US.