US EditionDiageo India Takes Major Stake in NAO Spirits: A Boost for Indian Craft Spirits
- On June 20, 2025, United Spirits Ltd, Diageo's Indian subsidiary, announced plans to take complete control of NAO Spirits & Beverages Pvt Ltd.
- United Spirits first acquired a 30% stake in NAO Spirits in March 2022 and plans to increase it to about 97% by June 27, 2025, via equity and convertible preference shares.
- NAO Spirits, founded by Anand Virmani in 2017, is known for its craft gin brands Greater Than and Hapusa and expanded into aged jaggery rum with PIPA in 2024.
- The acquisition values NAO Spirits at approximately ₹130 crore and includes an additional investment of around ₹20 crore to support working capital and growth.
- This move signals Diageo India's commitment to expanding its premium craft spirits portfolio and leveraging local innovation through its Ventures arm and innovation centre in Goa.
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MSNDiageo India Acquires Majority Stake in Craft Spirits Maker NAO Spirits at INR 130 Cr Valuation
This strategic move will see NAO Spirits become a subsidiary of Diageo India, further solidifying the company's commitment to India's growing premium craft spirits segment.
United Spirits shares gain as it fully acquires NAO Spirits in Rs 130 crore deal
United Spirits will acquire full ownership of NAO Spirits, maker of Greater Than and Hapusa gins, in a Rs 130 crore deal, raising its stake to 97.07 percent by June 2025 and completing the buyout by 2026
Diageo India Takes Major Stake in NAO Spirits: A Boost for Indian Craft Spirits
Diageo India is acquiring a majority stake in NAO Spirits for Rs 130 crore. NAO Spirits, known for brands like 'Greater Than' and 'Hapusa', launched by Anand Virmani in 2017, will become a subsidiary. This move aims to leverage Diageo's expertise to scale NAO's distribution and production.
Diageo India to Acquire Majority Stake in NAO Spirits
Get latest articles and stories on Latest News at LatestLY. Diageo India (United Spirits Ltd) on Thursday said it will acquire a majority controlling stake in NAO Spirits at an enterprise value of Rs 130 crore. Latest News | Diageo India to Acquire Majority Stake in NAO Spirits.
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