Is it smart for $DGE to sell Guinness?

Today, Bloomberg reported that Diageo $DGE is researching options to sell or spin-off its Guinness brand. The stout beer brand has gained in popularity in recent years, with Gen-Z liking the brand. 

We know that Guinness is a fantastic brand with 15% comparable sales growth in the first half of 2024 and operating margins of more than 25%. So, why would Diageo sell it or spin it off? 

1. You could argue that it's the perfect time to sell Guinness, since its tremendous growth in the past few years. You can sell it at the top of the market.
2. If $DGE needs the money and is seeing more profitable growth opportunities, it might be a good option to sell. 
3. Spinning off Guinness can help to unlock value. Right now, Guinness is just one of the hundreds of brands within the group. After a spin-off, the focus from investers will be purely on Guinness. 

Although the above reasons might be valid, it is a question if those actions REALLY unlock value for Diageo shareholders. Why? 

1. Diageo is one of the strongest brands within the group and has a bright future. So why selling your winners? 
2. Diageo is a quite poor capital allocator in recent years, so I'm not confident that they can reinvest the money back into the business more profitable. In fact, I wouldn't be surprised if they would raise the dividend afterwards because of the bigger cash stack. 
3. In the long-run, it isn't bad if a company is 'undervalued'. When this is the case, $DGE can buy back shares cheaper, which increases your stake in the company at a more rapid pace. 

So to wrap it up: It doesn't seem like a good choice to sell Guinness, thinking about the long-term profitability of the business.