Diageo Takes Majority Stake in Non-Alcoholic Spirit Brand Seedlip
07 Agosto 2019 - 4:15PM
Dow Jones News
By Adria Calatayud
Diageo PLC (DGE.LN) said Wednesday that it has bought a majority
stake in Seedlip, a distilled non-alcoholic spirits brand, as the
Guinness and Smirnoff maker seeks to tap into growing demand for
alcohol-free drinks.
The world's largest liquor maker, which also owns Johnnie Walker
whisky and Tanqueray gin, said its Distill Ventures accelerator
program made a minority investment in Seedlip in 2016.
Diageo said Seedlip is the first non-alcoholic brand it has
acquired through Distill Ventures. The value of the deal wasn't
disclosed.
Headquartered on a farm in The Chilterns, England, Seedlip is
now stocked in over 7,500 bars, restaurants, hotels and retailers
across more than 25 countries, Diageo said. Seedlip founder Ben
Branson will remain involved in the business as a shareholder and
director, Diageo said.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
August 07, 2019 10:00 ET (14:00 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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