Diageo is reportedly exploring the sale of the iconic Pimm’s brand, as well as two other brands in its portfolio.

It has been reported that the beverage giant has hired bankers at Rothschild to explore a sale of Pimm’s.

Diageo acquired the brand in 1997 as part of the tie-up between Grand Metropolitan and Guinness plc.

The process was said to be at an early stage and ultimately may not even lead to the sale.

James Pimm created the iconic drink in 1840 who “blended his famous No.1 Cup – a secret recipe of gin, herbs, and liqueur – as an aid for digesting oysters in his London Oyster bar”.

The brand has also long been associated with Wimbledon and it is mainly produced for consumption in the UK.

As well as bottles of the gin-based liqueur, ready-to-drink cans have been available since 2004.

Diageo is exploring the sale of Safari, a fruit liqueur, and Pampero, a rum brand.