Increasing numbers of consumers opting to drink less alcohol

Diageo, the world’s largest spirits maker, has increased its holding in “game-changing” non-alcoholic spirit brand Seedlip to a majority stake, as it seeks to cater to the growing number of teetotallers. The deal, which was announced yesterday, follows a 20 per cent investment in Seedlip by Diageo’s accelerator programme for small businesses Distill Ventures in 2016… Seedlip is a premium-priced, non-alcoholic spirit that is often sold as an alternative to gin. It was launched in 2015 by Ben Branson… who created the bitter-tasting drink from distilled produce on his farm in the Chiltern Hills, England. Since then, Seedlip has launched in more than 25 countries and is served in more than 300 Michelin-starred restaurants… Diageo, which owns Gordon’s gin and Smirnoff vodka, has benefited from a booming gin market in recent years. Last month the company said that annual profits had climbed 10 per cent to £4 billion, and highlighted that gin sales had jumped 22 per cent… But with increasing numbers of consumers opting to drink less alcohol, companies are looking to expand beyond alcoholic beverages and provide premium low- and non-alcohol options… Seedlip, which comes in three flavours, retails at about £27, similar to the price of a bottle of gin. 

Alice Hancock