Corporate / CVC · 2 deals
London, OS
Every published round Diageo took part in, and every parcel of existing shares it bought off another holder. Deals we hold but haven't published yet are not counted.
| Company | Stage | Announced | Amount | Role | Alongside | Sources |
|---|---|---|---|---|---|---|
| Starward Whisky | Accelerator | 2015 | - | Participant | thewhiskeywash.com, SmartCompany, australianbartender.com.au, drinksdigest.com, drinkstrade.com.au | |
| Mr Black | Accelerator | 2015 | - | Participant | SmartCompany, foodanddrinkbusiness.com.au, drinkstrade.com.au, thespiritsbusiness.com, diageo.com (29 Sep 2022), diageo.com (29 Sep 2022) |
Companies Diageo has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| Mr Black | 2015, Accelerator | 1 | 0 | |
| Starward Whisky | 2015, Accelerator | 1 | 0 |
This is a stake in the fund itself, money that the fund's manager invests, not a stake in the fund manager.
| Fund | Manager | Sources |
|---|---|---|
| - | Distill Ventures | SmartCompany, globalventuring.com |
Companies Diageo has backed that another company then bought. An exit for the holding, not a deal Diageo did.
Companies Diageo acquired or merged with, per published coverage. Buying a company is not investing in one: nothing here counts in the deals column.
| Company | Kind | Announced | Price | Sources |
|---|---|---|---|---|
| Mr Black | Acquisition | 29 Sep 2022 | $175m | glassandnote.com, thegrocer.co.uk, SmartCompany, foodanddrinkbusiness.com.au, drinkstrade.com.au, thespiritsbusiness.com, diageo.com (29 Sep 2022), diageo.com (29 Sep 2022) |
| Seedlip | Acquisition | undated | - | globalventuring.com, thegrocer.co.uk |
| Ritual Zero Proof | Acquisition | 25 Sep 2024 | - | globalventuring.com, diageo.com |
| Tipplesworth | Acquisition | 3 Dec 2019 | - | thegrocer.co.uk, thespiritsbusiness.com |
| Name | Role | Sources |
|---|---|---|
| Amina Patel | Global Innovation Director | glassandnote.com |
| Claudia Schubert | President, U.S. Spirits and Canada | foodanddrinkbusiness.com.au, thespiritsbusiness.com, diageo.com (29 Sep 2022), diageo.com (29 Sep 2022) |
| David Crooch | General Manager, Diageo Non Alcohol | diageo.com |
| Debra Crew | CEO | globalventuring.com, thegrocer.co.uk |
| Dr Nick Morgan | Master Distiller | glassandnote.com |
| Kathryn L. L. Kermode | CFO | glassandnote.com |
| Melissa Wisdom | Commercial Director | thespiritsbusiness.com |
| Tom Goss | Brand Manager (former) | glassandnote.com |
Stories naming Diageo. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Spirits giant Diageo bought British premixed cocktail maker Tipplesworth for £112 million in March 2024; the article examines the deal's rationale, the brand's retail growth, and planned expansion into Canada, Australia and the US.
Retrospective look at Diageo's 2024 buyout of Australian coffee liqueur maker Mr Black, covering the deal price, brewing process, US market performance, competitor responses, and Diageo's growth plans for the brand.
A retrospective on Diageo shutting its craft-investment arm in 2024: 42 roles cut, brands including Camden Town, Little Creatures and Cigar City sold, and what corporate retreat means for independent brewers.
Spirits giant Diageo has bought the Sydney-founded coffee liqueur maker Mr Black; the piece examines the price, the cocktail trend behind it, rival acquisitions, and what comes next for the brand.
David Vitale has bought back his Melbourne whisky company from Diageo, ending the multinational's decade-old minority shareholding taken when Starward joined its startup program in 2015.
Also drinksdigest.com·australianbartender.com.au·SmartCompany
Starward's founder has bought the whisky business back outright, ending a decade of backing from Diageo through the Distill Ventures program, which Diageo began closing last year.
Also drinksdigest.com·australianbartender.com.au·thewhiskeywash.com·glassandnote.com
Founder David Vitale has bought back Starward Whisky, ending Diageo's eleven-year stake held via its Distill Ventures accelerator, which first invested in 2015.
Founder David Vitale has bought back the Starward whisky business outright from Diageo's Distill Ventures, ending their decade-long partnership, as Diageo winds down its early-stage spirits accelerator.
Also australianbartender.com.au·SmartCompany·thewhiskeywash.com
Founder David Vitale has fully bought back Starward Whisky, ending Diageo's eleven-year involvement via its Distill Ventures accelerator, which stopped taking new brands after sales declined in 2025.
Analysis of Diageo's March 2025 withdrawal from accelerator Distill Ventures, where it was sole limited partner, citing strategy changes under new leadership, plus portfolio company Westward Whiskey's bankruptcy.
Diageo is withdrawing from the Distill Ventures accelerator it backed since 2013, after a strategic review of its early-stage venture approach, leaving a smaller team to manage existing investments.
Also globalventuring.com
Diageo has bought non-alcoholic spirits maker Ritual Zero Proof, its earlier portfolio investment, for an undisclosed sum. Co-founder David Crooch becomes general manager of Diageo's non-alcohol unit.
Also globalventuring.com
Digital consulting startup FORMM has raised a $600,000 pre-seed round from individual investors who also take on leadership, board and advisory roles, to help mid-sized businesses digitise.
Also SmartCompany
Drinks giant Diageo has bought Australian coffee liqueur maker Mr Black, in which it took a minority stake in 2015 via its Distill Ventures accelerator; no purchase price was disclosed.
Also diageo.com·thespiritsbusiness.com·drinkstrade.com.au·SmartCompany·foodanddrinkbusiness.com.au·thegrocer.co.uk·glassandnote.com
Diageo has bought bottled-cocktails maker Tipplesworth, founded by Frankie Snobel, for an undisclosed sum; Snobel joins Diageo's GB on-trade team as the drinks giant pushes its tap cocktails across British bars.
Also thegrocer.co.uk
A public-interest profile arguing Starward Whisky markets Melbourne independence while omitting its 2023 acquisition by UK multinational Diageo, with profits flowing overseas.