Diageo has acquired a significant majority shareholding in Seedlip, a non-alcoholic spirits brand.
Seedlip was launched by entrepreneur Ben Branson in 2015 with the idea of solving the question, “What to drink when you’re not drinking.” Branson will remain actively involved as a shareholder and director, and will work with the Seedlip team and Diageo to continue to support Seedlip’s future success.
In June 2016, Seedlip announced a minority investment from the Diageo-backed accelerator program Distill Ventures. Independently run, Distill Ventures receives funding from Diageo to support entrepreneurs as they launch and grow innovative drinks brands.
Seedlip is the first non-alcoholic brand acquired by Diageo through Distill Ventures. In the last three and a half years, Seedlip has grown from Branson’s kitchen to a presence in more than 25 countries. Seedlip’s three variants — Spice 94, Garden 108 and Grove 42 — are stocked in 7,500-plus of the world’s bars, restaurants, hotels and retailers.
“We want to change the way the world drinks and today’s news is another big step forward to achieving this,” says Branson. “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.”