\n
Diageo backed the company from launch in 2013 and in the ensuing years has acquired Ritual Zero Proof, Mr Black, Seedlip, Kikori and Belsazar through the partnership.<\/p>\n
It is understood that the move has resulted in job losses.<\/p>\n
A spokesperson from Diageo said: \u201cFollowing more than ten successful years partnering with Distill Ventures to nurture and scale emerging spirits brands, we have undertaken a strategic review of our approach to early-stage, venture investments.<\/p>\n
\u201cMoving forward, Diageo will not be bringing in any new brands into the Distill Ventures programme, whilst a smaller Distill Ventures team will remain in place to manage a reduced number of existing investments.\u201d<\/p>\n
At present, the Distill Ventures portfolio is made up of five whisky brands – Starward, Westward Whiskey, Stauning Whisky, Kanosuke and Fielden Whisky \u2013 with ten more in its pre-accelerator program.<\/p>\n
Last month, Diageo reported an organic sales growth of 1% in the first half of its current financial year, thanks in part to strong performances from Guinness and Don Julio.<\/p>\n
The return to the black followed slight declines across the company\u2019s previous financial year.<\/p>\n
At February\u2019s CAGNY 2025 in Orlando, Florida, members of the Diageo senior executives outlined the company\u2019s focus on \u201cdelivering long-term sustainability growth\u201d.<\/p>\n
Chief financial officer, Nik Jhangiani outlined the company’s four priorities as to \u201cdrive balanced sustainable top-line growth\u201d, \u201cdeliver better operating leverage\u201d, \u201cmaximise free cash flow\u201d and \u201coptimise returns across the business by focusing on what we can control and manage\u201d.<\/p>\n
In December, it was announced that Distill Ventures global whisky director Vishal Patel would be leaving the company to join James Gin as chief executive.<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"
Diageo backed the company from launch in 2013 and in the ensuing years has acquired Ritual Zero Proof, Mr Black, Seedlip, Kikori and Belsazar through the partnership. It is understood that the move has resulted in job losses. A spokesperson from Diageo said: \u201cFollowing more than ten successful years partnering with Distill Ventures to nurture […]<\/p>\n","protected":false},"author":1,"featured_media":133566,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12029],"tags":[12718,57788,3130,15946,14030,57787,25235,57784,57790,57789,5038,3006,6443,27016,57785,13239,43349,35266,57786,57791],"dealstore":[],"offerexpiration":[],"class_list":["post-133565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alcohol","tag-accelerator","tag-accelerator-program","tag-backs","tag-confirmed","tag-diageo","tag-diageo-spokesperson","tag-distill","tag-distill-ventures","tag-distill-ventures-accelerator","tag-distill-ventures-diageo","tag-drinks","tag-international","tag-longer","tag-new","tag-new-brands","tag-program","tag-spokesperson","tag-ventures","tag-ventures-accelerator","tag-ventures-accelerator-program"],"yoast_head":"\n
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