British beverage company, Diageo, has acquired a major stake in Seedlip, the world’s first distilled non-alcoholic spirits brand.
Seedlip was launched back in 2015 by Ben Branson and, in 2016, secured a minority investment from Distill Ventures, the Diageo-backed accelerator programme.
Now, Seedlip has become the first non-alcoholic brand acquired by Diageo through Distill Ventures.
Under the acquisition, Branson will remain activity involved as a shareholder and director.
“We want to change the way the world drinks and today’s news is another big step forward to achieving this. 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,” said Branson.
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.
“We’re thrilled to continue working with him to grow what we believe will be a global drinks giant of the future.”