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Diageo completes Chase Distillery acquisition
Diageo has completed its acquisition of English producer Chase Distillery following approval from the UK’s Competition and Markets Authority.
In October 2020, Smirnoff vodka and Gordon’s gin owner Diageo agreed to acquire Chase Distillery for an undisclosed sum. Herefordshire-based Chase Distillery was founded in 2008 by William Chase.
However, the deal prompted an investigation from regulatory body the Competition and Markets Authority (CMA) in January this year.
At the time, the CMA said it was considering whether the transaction, if completed, will result in the creation of a relevant merger situation under the Enterprise Act 2002 and, if so, whether that move could result in a significant fall in competition within any markets in the UK for goods or services.
The CMA gave the acquisition the green light on 11 February 2021.
“We are delighted to welcome Chase Distillery and its quintessentially British portfolio of high-quality, crafted brands to Diageo,” said Dayalan Nayager, managing director, Diageo Great Britain. “We are very much looking forward to working with the Chase team to build on the portfolio’s considerable potential.”
Diageo’s portfolio will now include Chase Original Potato Vodka and seven premium-plus gins, including Chase GB Gin, Pink Grapefruit and Pomelo Gin, and Rhubarb and Bramley Apple Gin. Chase also recently moved into hard seltzers with the launch of a gin-based range.