Diageo has announced the acquisition of a significant majority shareholding in Seedlip, a distilled non-alcoholic spirits brand.
Seedlip, based in The Chilterns, England, was launched by Ben Branson in 2015, who will remain actively involved as a shareholder and director. Terms of the deal were not disclosed.
In June 2016, Diageo took a 20% stake in Seedlip via the Diageo-backed accelerator programme Distill Ventures. Independently run, Distill Ventures receives funding from Diageo to support entrepreneurs as they launch and grow drinks brands. Seedlip is the first non-alcoholic brand acquired by Diageo through Distill Ventures.
Seedlip’s three variants (Spice 94, Garden 108 and Grove 42) are stocked in over 7,500 bars, restaurants, hotels and retailers in more than 25 countries, including the majority of the world’s 50 best cocktail bars and over 300 Michelin star restaurants.
Ben Branson, Founder of Seedlip, said: “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.”
John Kennedy, President Europe, Turkey and India at Diageo, said: “Seedlip is a game-changing brand in one of the most exciting categories in our industry. Ben is an outstanding entrepreneur and has created a brand that has truly raised the bar for the category.”