United Spirits invests in zero-ABV brand
Diageo’s United Spirits arm has purchased minority stakes in alcohol-free producer V9 Beverages and Indie Brews & Spirits, owner of coffee liqueur brand Quaffine.
In a notice published on the Diageo India site, the group confirmed that the board of directors had approved the purchase of a 15% stake in V9 Beverages and a 25% stake in Indie Brew and Spirits.
Hina Nagarajan, managing director and CEO, Diageo India, said: “In line with our strategy of exploring opportunities in new growth engines, these strategic minority investments allow us to partner with breakthrough startup entrepreneurs to experiment in the emerging consumer trends of the non-alcohol and coffee liqueur category, respectively.
“We will explore appropriate mechanism to enhance market reach of these brands and support in other areas of planning and business growth.”
Founded in 2020, V9 Beverages produces Sober, described as India’s first distilled non-alcoholic beverage. The brand’s range includes zero-ABV alternatives for rum, whisky, gin, and pink gin.
Indie Brews & Spirits released a cold brew coffee liqueur called Quaffine in 2022, said to be a first in India. The 25% ABV liqueur is made with 100% Arabica coffee beans and is available to buy in Goa, Thailand and Kenya.
United Spirits said Quaffine has the ‘potential to cater to a wider drinking occasion, where casual-moderate drinking is on the rise’.
It can be served neat, in cocktails, mixed with cream to make a White Russian, added to desserts, or blended with coffee, according to the brand’s website.
Earlier this year, United Spirits purchased a minority stake in Inspired Hospitality, producer of Indian agave spirit brand Maya Pistola.
Diageo’s vast portfolio of drinks brands also includes UK-based alcohol-free ‘spirit’ Seedlip and Australian coffee liqueur Mr Black, which it acquired in 2022.
Diageo-backed investment unit Distill Ventures took a minority stake in US-based non-alcoholic drinks brand Ritual Zero Proof in January 2020.
Related news
Diageo GB appoints marketing and innovations director
Johnnie Walker and Olivier Rousteing create $20,000 whiskies
