Diageo’s Distill Ventures Invests In Danish Whisky Maker Stauning
December 8, 2015Through its Distill Ventures brand incubator, Diageo has invested $14.5 million in Denmark’s Stauning Whisky. Stauning, whose nine founders will retain control of the business and continue to handle day-to-day operations, said, “The plan is to expand the distillery to a capacity of about 50 times the production of today. The construction is due to begin in summer 2016 and the first distilling will take place in 2018. In the meantime we will keep distilling in our current buildings.”
Diageo launched Distill Ventures last year to identify promising small-scale spirits concepts and invest in their development. Speaking in New York last month, CEO Ivan Menezes said of Distill, “This is an established model in the world of tech start-ups, but no one except us is doing it in spirits. The aim is to help the best entrepreneurs sell and scale up outstanding spirits brands.”
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