United Spirits to acquire minority stake in Nao Spirits & Beverages
Summary
Nao Spirits was lunched in 2016 by Anand Virmani, with the dream of bringing an Indian botanical-infused gin to the world, with brands like ’Greater Than’ and ’Hapusa’. As consumers shift towards experimentation, repertoire and casual drinking occasions, demand for local, yet authentic craft-oriented brands is increasing, the company added, and said that Nao Spirits brands are well placed to cater to these trends. Over the last three years, the Indian market has witnessed the emergence of multiple craft gin players and Nao Spirits has been a game-changer in the category. Our team is deeply committed to supporting Anand Virmani, Aparajita Ninan & Abhinav Rajput, who will continue to run the business, to deliver Nao’s vision of placing Indian craft gin amongst the world’s most coveted craft spirits .” Anand Virmani, co-founder and CEO, Nao Spirits & Beverages, commented: “We are delighted to partner with a company like Diageo which has supported craft spirits brands. As we look to chart the next phase of growth of Nao Spirits, the investment from Diageo India will help scale our business, improve efficiencies, and access mentorship from an industry leader, which will be immensely valuable.” The investment will be funded through Diageo India’s internal cash resources.
Classifications
AskAI Classifications
LabelsLinked Companies
