The Diageo group of companies has entered into a deal to acquire the British gin and vodka producer, Chase Distillery.
The deal stems from the fact that presently, gin brands make up about 4% of all Diageo’s alcoholic beverages, but this category has brought the company considerable profits in recent years. Net sales of gin brands were up 22% over the prior year. It is also one of the most valuable spirits in the United Kingdom and is growing rapidly worldwide.
This British distillery’s portfolio includes ranges of gins and vodkas and a unique elderflower liqueur. Besides, the portfolio also includes Williams Elegant 48 Gin, made from 48 rare apple varieties.
Chase is famous for producing organic spirits from UK-grown potatoes and fruit using steam to operate a distillery that complies with Diageo’s environmental policy.
The completion of the purchase process is expected to be in early 2021 subject to regulatory approvals.