Diageo Buys Majority Stake In Non-Alcoholic Spirit Maker Seedlip
Diageo has announced that it has taken a majority stake in distilled non-alcoholic spirits brand Seedlip.
Diageo bought a 20% stake in the maker of spice-based drinks in 2016 through its venture capital arm Distill Ventures.
Diageo uses Distill Ventures to invest in small brands that tap into emerging consumer tastes and trends. So far, the venture has invested more than £60 million in approximately 15 drinks brands.
Founded by Ben Branson, Seedlip has a presence in more than 25 countries, including the UK, Australia and the United States, and is sold in three spice variants. In the UK, Seedlip is sold at retail chains such as Selfridges, Waitrose, Sainsbury's and Tesco.
Diageo said that Branson will retain a minority shareholding in the company.