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Diageo buys majority stake in non-alcoholic spirit maker Seedlip

Diageo buys majority stake in non-alcoholic spirit maker Seedlip
FILE PHOTO: Products from drink manufacturer Seedlip are displayed in London, Britain May 17, 2017. REUTERS/Neil Hall -
Neil Hall(Reuters)
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(Reuters) – Diageo <DGE.L>, the world’s largest spirits company, said on Wednesday it had bought a majority stake in distilled non-alcoholic spirits brand Seedlip for an undisclosed sum.

Diageo had bought a 20% stake in Seedlip, a British startup, in 2016 via its venture capital arm Distill Ventures.

Seedlip has a presence in more than 25 countries, with its three variants of drinks stocked in more than 7,500 bars, restaurants, hotels and retailers globally.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Anil D’Silva)

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