Diageo India acquires majority stake in NAO Spirits

Diageo India has announced the acquisition of a majority controlling stake in homegrown craft spirits company NAO Spirits at an enterprise value of ₹130 crore, making NAO Spirits a subsidiary of the company.

Praveen Someshwar, Managing Director & CEO, Diageo India, stated, “Ventures, Diageo India’s investment arm, is dedicated to strengthening our portfolio by investing in disruptive alcobev startups. The acquisition of NAO Spirits represents a pivotal step in exploring future growth in Indian craft spirits. We are excited to welcome Anand into the Diageo family as he continues to lead the NAO Spirits business.”

Founded in 2017 by Anand Virmani, NAO Spirits is best known for its award-winning craft gins, Greater Than, India’s first craft gin made from nine botanicals, and Hapusa, crafted with foraged Himalayan juniper. The company recently expanded into aged, spiced rum with the launch of Pipa, made from jaggery spirit and matured in imported casks.

“This acquisition is a powerful validation of our belief that India can create great craft spirits. With Diageo India’s support in leadership, distribution, and production, we are ready to scale while retaining our DNA. We’ll continue to be path breakers,” said Virmani.

This strategic acquisition adds strength to Diageo India’s craft portfolio alongside its global gin brand Tanqueray, reinforcing its commitment to innovation and consumer relevance in India’s evolving spirits market.