Diageo PLC (DEO) Expands Premium Product Portfolio with Casamigos Margaritas

Diageo PLC (NYSE:DEO) is one of the 10 best defensive stocks to buy in a volatile market. On June 30, the company’s Casamigos brand unveiled its first-ever ready-to-drink (RTD) margarita variety pack. Casamigos Margaritas is the new non-carbonated cocktail made with tequila, natural flavors, and real juice.

Casamigos Margaritas paves the way for Diageo to expand its footprint into the high-growth RTD tequila market. The RTD segment is experiencing double-digit growth as tequila-based options remain in strong demand.

The new brand will expand the company’s premium portfolio, enabling it to capitalize on several converging trends.

“Tequila-based ready-to-drink cocktails are driving the next wave of growth in the category, and consumers are looking for trusted brands that deliver both quality and convenience,” said Jamie Young, VP of Ready to Drink and Ready to Serve at Diageo. “With Casamigos Margaritas, we’re bringing a premium experience into the can—backed by the cultural credibility that set this brand apart.”

Diageo PLC (NYSE:DEO) engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, and Chinese white spirits, among others.

While we acknowledge the potential of DEO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: Top 10 Materials Stocks to Buy According to Analysts and 10 Best Organic Food and Farming Stocks to Buy Now.

Disclosure: None. This article is originally published at Insider Monkey.