Diageo is the world's largest producer of spirits and a major beer producer, formed from the merger of Guinness and Grand Metropolitan in 1997. The company owns iconic brands including Johnnie Walker, Smirnoff, Guinness, Baileys, Tanqueray, Captain Morgan, and Bundaberg Rum (Australia). In Australia, Diageo is a dominant player in the spirits market, though its ownership of local brands like Bundaberg Rum may not be widely recognized by consumers.