Diageo India Takes Major Stake in NAO Spirits: A Boost for Indian Craft Spirits

Diageo India, officially known as United Spirits Ltd, announced a strategic acquisition on Thursday, revealing its plan to gain a majority controlling stake in NAO Spirits. This deal values the burgeoning craft spirits company at Rs 130 crore.

According to an official statement from Diageo India, NAO Spirits, known for its distinctive brands like 'Greater Than' and 'Hapusa', will transition into a subsidiary under its new parent company. NAO Spirits was founded in 2017 by entrepreneur Anand Virmani.

Praveen Someshwar, MD and CEO of Diageo India, emphasized that acquiring NAO Spirits is a significant move in expanding the company's footprint in the Indian craft spirits market. The established expertise of Diageo is expected to bolster NAO Spirits' distribution and production scale, supported by their extensive network and leadership capabilities.

(With inputs from agencies.)