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DIAGEO/
RTR32RMJ
May 28, 2012
Bottles of Ypioca's cachaca, a spirit made from fermented sugar cane, are displayed in a market in Sao...
Sao Paulo, Brazil
Bottles of Ypioca's cachaca, a spirit made from fermented sugar cane, are displayed in a market in Sao...
Bottles of Ypioca's cachaca, a spirit made from fermented sugar cane, are displayed in a market in Sao Paulo May 28, 2012. British drinks group Diageo is buying Ypioca, a maker of Brazil's most popular spirit, cachaca, for about 300 million pounds ($469 million), boosting its expansion in fast-growing emerging markets while it fights for a bigger prize in tequila. Cachaca accounts for about 80 percent of the volume of the Brazilian spirits industry and, when mixed with ice, sugar and lime makes the Brazilian cocktail Caipirinha. REUTERS/Paulo Whitaker (BRAZIL - Tags: BUSINESS)
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