NAO Spirits has been a prominent name in the world of Indian craft gin, with award-winning brands like Hapusa and Greater Than in its roster. However, now the company will be exploring new business avenues as Diageo India acquires NAO Spirits in a lucrative deal for INR 130 crore! Ventures, Diageo’s investment arm, will acquire NAO Spirits as the brand sees an opportunity to scale a homegrown story rooted in the Indian soil.
Diageo India (United Spirits Limited) has acquired NAO Spirits for INR 130 crore or USD 15.2 million. NAO Spirits will now be a subsidiary of Diageo India.
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NAO Spirits was launched in 2017 by Anand Virmani with a belief in bringing Indian craft botanical gin to the limelight. What started as a small distillery in Goa became known for two of India’s best homegrown brands – Hapusa and Greater Than. In a world of international gin garnering all the praise, NAO didn’t shy away from embracing their Indian roots and crafting gin that puts Indian botanicals in the forefront.
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This strategic acquisition will be a win-win for both Diageo India and NAO Spirits. The investment arm of Diageo India, Ventures, is dedicated to strengthening the company's portfolio by investing in alco-bev startups that are not just unique but disruptive in their own way. Strategic investments in such disruptive startups will offer consumers an opportunity to explore a wide range of products that cater to evolving preferences.
Now, with the acquisition of NAO Spirits, Diageo India sees the opportunity to scale the homegrown craft gin maker and offer consumers premium-quality, locally-made alternatives in the premium craft gin segment.
Moreover, this strategic acquisition reflects Diageo India’s sharp business acumen to cement its position within India’s dynamic craft spirits segment. This segment is where consumers expect something local, authentic, and innovative, and NAO Spirits ticks all the boxes!
Anand Virmani, co-founder & CEO of Nao Spirits & Beverages, commented on the same: “We are excited to be a part of the Diageo India (USL) family. As India’s first craft spirits brand born in a small distillery in the coastal state of Goa, this acquisition by Diageo India (USL) is a powerful validation of what we’ve always believed: that India can create great craft spirits”.
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With Diageo India acquiring Indian craft gin maker NAO Spirits for a whopping 130 crore, it will be interesting to see how this investment pans out in the long run. NAO Spirits’ brands like Hapusa and Greater Than have carved their separate niches in the craft gin industry, and now with this acquisition, they will mark a new chapter for them. What are your thoughts on this groundbreaking acquisition?
