After 257 years Diageo invests in non-alcoholics

Diageo

After 257 years in the spirits and beer business, Diageo has made its first investment in a non-alcoholic drinks company. The world’s largest distiller, which owns Smirnoff vodka and Guinness stout, said yesterday that it had taken a minority stake in Seedlip, a British company launched last year by entrepreneur Ben Branson that produces non-alcoholic distilled drinks. The Seedlip investment was made through Distill Ventures, a vehicle set up by Diageo three years ago that it describes as “a funded accelerator programme for entrepreneurs”… Distill Ventures allows Diageo to place small bets on emerging brands at a time of big shifts in consumer tastes and preferences. One change is the tendency for people to drink less alcohol, at least in the mature markets of western Europe and areas of North America.

 

Scheherazade Daneshkhu

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