Diageo has acquired the Australian premium cold brew coffee liqueur brand, Mr Black.
Launched in 2013, US-based Mr Black applies contemporary coffee techniques and quality sourcing to create its coffee liqueur. The brand is now available in 22 countries.
Diageo purchased a minority stake in Mr Black in 2015, through the company-backed accelerator programme, Distill Ventures. The programme, which receives funding from Diageo, aims to support the launch and growth of innovative drinks brands.
Co-founder, Tom Baker, will remain involved with Mr Black, working alongside Diageo to build on its success.
Baker said: “Coffee is more than just a drink – it’s a culture, ritual, obsession, aesthetic, experience, tradition and a community. We created Mr Black to embody that culture and inspire people to take their love of coffee into their evening drinks. Diageo understood our vision early on and now, after several years with them as a supporter, we are thrilled to be joining the Diageo family.”
Claudia Schubert, president, US spirits and Canada at Diageo added: “With its award-winning liquid, eye-catching design and packaging, and ability to thrive in culture, we believe Mr Black is just getting started in the dynamic coffee liqueur segment. This acquisition is in line with our strategy to acquire high-growth brands in exciting categories, and we are delighted to welcome Mr Black into our portfolio.”
Diageo says the acquisition has been “funded through existing cash resources”.
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