Diageo, Bain Capital Said to Team Up for Distiller Stock Spirits

Diageo Plc is teaming up with U.S. buyout firm Bain Capital LLC for a possible joint bid for Stock Spirits Group, the distilling and distribution company owned by Oaktree Capital Management LLC, said three people with knowledge of the matter.

Diageo and Bain Capital are the only potential bidders, said two of the people, who declined to be identified because the information is private. An initial public offering of Stock Spirits in Warsaw is still a possibility, said the third person. Diageo Plc may spend 500 million pounds ($820 million) to buy Stock Spirits, maker of the Polish vodka Czysta de Luxe, the Sunday Times reported last month.