Diageo acquires majority stake in non-alcoholic spirits brand Seedlip
Diageo investment in Seedlip: Diageo, through its startup accelerator program Distill Ventures, has acquired a majority stake in Seedlip, which is claimed to be the world’s first distilled non-alcoholic spirits brand, as per the latest drinks acquisition news.
The acquisition marks the first non-alcoholic brand acquired by the beverage alcohol producer through Distill Ventures.
Seedlip, which was launched in 2015 by Ben Branson, has a presence in more than 25 countries.
Its three variants, including Spice 94, Garden 108 and Grove 42, are served in more than 7,500 cocktail bars, restaurants, hotels and retailers across London, Barcelona, Stockholm, Berlin, Copenhagen, Milan, Hong Kong, New York, Los Angeles, San Francisco, Sydney, and Melbourne.
Diageo investment in Seedlip : Variants of Seedlip non-alcoholic spirits brand. Photo courtesy of Diageo.
Distill Ventures, which receives funding from Diageo to support entrepreneurs to launch and grow innovative drinks brands, made a minority investment in Seedlip in June 2016.
John Kennedy – President of Diageo Europe, Turkey and India, commenting on Diageo investment in Seedlip, said: “Seedlip is a game-changing brand in one of the most exciting categories in our industry.”
Ben Branson will remain actively involved as a shareholder and director and continue to support Seedlip’s further growth.
Commenting on Diageo investment in Seedlip, Shilen Patel – co-founder and non-alcoholic lead of Distill Ventures said: “It has been a privilege to collaborate with an entrepreneur as inspiring as Ben in launching Seedlip and we look forward to watching Seedlip continue to thrive around the world.”
Seedlip has an opened back-bar shelf life of six months and does not require refrigeration.
Diageo’s products are sold in more than 180 countries and its brands include Johnnie Walker, Crown Royal, JεB, Buchanan’s and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray, and Guinness.
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