Diageo has announced its acquisition of American single malt whisky producer Balcones Distilling.
Founded in 2008 in Waco, Texas, Balcones provides a diverse portfolio of “super-premium and above” whiskies. Its products include Texas ‘1’ American Single Malt, Lineage American Single Malt and Baby Blue Corn Whisky.
Claudia Schubert, president of Diageo North America, said: “We are delighted to welcome Balcones Distilling into Diageo. The Balcones team are true innovators and pioneers in the emerging American Single Malt and Texas whisk(e)y movements, and their super premium plus whiskies are highly complementary to our whisk(e)y portfolio.”
“This acquisition is in line with our strategy to acquire high-growth brands in fast-growing segments, such as super-premium whisk(e)y, and we look forward to working with the Balcones team to support further growth for these world-class whiskies.”
Greg Allen, chairman of Balcones Distilling, added: “Balcones started with an idea driven by an innovative spirit and passion to create something original and authentic in the heart of Texas. Now, we couldn’t be prouder to have created these award-winning American Single Malt and Texas whiskies but also to have helped initiate an exciting new era of whisk(e)y in Texas.”
The deal was financed through Diageo’s existing cash resources.
Terms of the transaction were not disclosed.
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