- Friday, April 26, 2024
By: Radhakrishna N S
DIAGEO has announced the acquisition of majority shareholding in Seedlip, a distilled non-alcoholic spirits brand on Wednesday (7).
The Chilterns-based Seedlip is the first non-alcoholic brand acquired by Diageo through Distill Ventures, an independently run accelerator programme backed by the British drinks giant.
Distill Ventures has been a minority investor in Seedlip since June 2016.
Diageo said Ben Branson, who founded the brand in 2015, will remain actively involved as a shareholder and director in Seedlip.
“Distill Ventures’ and Diageo’s shared belief in our vision has enabled us to build a business that’s ready for scale and I’m excited to continue working with Diageo to lead this movement,” he said.
Launched in Branson’s kitchen, Seedlip, which comes in three variants, now has a presence in more than 25 countries.
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.”
In June 2016, Seedlip announced a minority investment from the Diageo-backed accelerator programme Distill Ventures. Independently run, Distill Ventures receives funding from Diageo to support entrepreneurs as they launch and grow innovative drinks brands.
Seedlip is the first non-alcoholic brand acquired by Diageo through Distill Ventures.
