THE Competition and Markets Authority (CMA) on Thursday (11 February) cleared the acquisition of Chase Distillery by Diageo, following an investigation launched last month.
Diageo in October 2020 has reached agreement to acquire Chase Distillery, the owner of Chase GB Gin and Chase Original Potato Vodka.
Founded in 2008 by entrepreneur William Chase, the Chase Distillery portfolio includes seven gins, four vodkas and an elderflower liqueur. In addition to Chase GB Gin, Chase has created a number of flavoured gins including Pink Grapefruit & Pomelo, Seville Marmalade and Rhubarb & Bramley Apple Gin.
The portfolio also includes Williams Elegant 48 Gin, made using 48 rare varieties of apple from 200-year old orchards.
Diageo hopes the acquisition will help it tap the growth opportunity within the premium plus gin segment which is growing at more than twice the rate of the total UK gin category, with a compound annual growth rate of 40 per cent between 2014 and 2019.
The UK is the largest gin market in Europe and between 2014 and 2019, grew at a compound annual growth rate of 17.4 per cent.