As global drinks companies continue to bolster their American whiskey portfolio, Diageo today announced its acquisition of Balcones Distilling.
This Texas-based business is known as a leading producer of American Single Malt Whisky.
Founded in Waco in 2008, Balcones has a diverse lineup including Texas “1” American Single Malt, Lineage American Single Malt and Baby Blue Corn Whisky.
The distillery often works with unique, local ingredients, including Texas-grown malted barley and roasted blue corn.
“We are delighted to welcome Balcones Distilling into Diageo,” says Claudia Schubert, President, Diageo North America. “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.”
The acquisition was funded through existing cash resources. Further details of the deal were not disclosed.
“Balcones started with an idea driven by an innovative spirit and passion to create something original and authentic in the heart of Texas,” says Greg Allen, Chairman, Balcones Distilling.” 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. We are thrilled that Diageo shares our belief in its potential and we look forward to seeing Diageo bring Balcones’ incredible whiskies to more consumers.”
This follows two other recent purchases by Diageo: the cold brew coffee liqueur Mr Black, and the flavored tequila brand 21 Seeds.
