Diageo acquires the British company Chase Distillery
Objective: to grow economically in the premium spirits category
Diageo has officially finalized the acquisition Chase Distillery, a British producer of gin and vodka, with the aim of growing economically in the premium spirits category. Founded in 2008 by William Chase, the distillery produces seven gins, four vodkas and an elderflower liqueur. The company says its products are distilled using UK-grown potatoes, apples and all-natural botanicals from its headquarters in Herefordshire.
The company headquarters pays attention to sustainability: the steam energy produced on site by a biomass boiler powered by the pruning of the apple orchard is used to run the distillery; his potato scraps are used as fertilizer to feed the farm's livestock.
“We are excited about the growth opportunity in the premium plus segment and look forward to working with our partner to harness the considerable potential of their portfolio,” said Dayalan Nayager , CEO of Diageo UK. William Chase, founder and president of the distillery, added: "It is inspiring to see a multinational believe in our potential and to know that they will build and work on our mission to develop a sustainable distillery in Herefordshire."
The acquisition, which was made for an undisclosed sum, is expected to close in early 2021, subject to regulatory clearances. The deal comes after the multinational acquired the premium Aviation gin brand and its owner Davos Brands for $ 610 million.
EFA News - European Food Agency