USA: Diageo acquires 100% of Ritual Zero Proof

Diageo, the leading alcoholic drinks firm, has announced the acquisition of spirit alternative business Ritual Zero Proof to strengthen its non-alcoholic spirits portfolio.

Launched in 2019, Ritual Zero Proof is a non-alcoholic spirit brand offering alternatives to whiskey, tequila, gin, rum, and aperitifs.

Diageo acquired a minority stake in Ritual Zero Proof via its accelerator Distill Ventures in January 2020.

In a statement, Diageo argued it was well positioned to build on Ritual’s already strong position via its leading market share position in the three largest non-alc markets globally, as well as its ownership of three of the five largest non-alc brands globally by value.

Commenting on the move, Diageo North America CEO Sally Grimes said: “Ritual Zero Proof is the number one brand in the fastest growing adult beverage category, and meets growing consumer demand for a flavorful and sophisticated, yet accessible spirits alternative. We are delighted to welcome it into our broader portfolio, where it will beautifully complement both our non-alc offerings, as well as those with alcohol, and serve to present consumers with even more choice and variety”.

Ritual Zero Proof Co-Founder Marcus Sakey added: “This acquisition is proof of the mainstream potential of the category, and our shared ambition to make sure a non-alc cocktail is available on every menu and on every grocery and liquor store shelf, providing sophisticated choices to today’s consumer”.

Source: Diageo