Diageo Acquires Cold Brew Coffee Liqueur Mr Black

Diageo has fully acquired Australian cold brew coffee liqueur brand Mr Black. The company previously took a minority stake in Mr. Black in 2015 through Distill Ventures, the Diageo-backed brand accelerator. Terms weren’t disclosed.

Billed as “a bittersweet blend of top-grade Arabica coffees and Australian wheat vodka,” Mr Black has grown to become the leading premium-priced coffee liqueur in the U.S., Diageo said, gaining traction via cocktails like the Espresso Martini. Founded in 2013 by designer Tom Baker and distiller Philip Moore, it’s now distributed across 22 countries.

“We believe Mr Black is just getting started in the dynamic coffee liqueur segment,” said Claudia Schubert, incoming Diageo North America president. “This acquisition is in line with our strategy to acquire high growth brands in exciting categories.”—Daniel Marsteller

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