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USL to buy Greater Than gin maker

United Spirits (USL), Diageo's Indian arm, is set to acquire 100% of Nao Spirits & Beverages, the company behind craft gin brands Greater Than and Hapusa, in a Rs 110 crore deal. This acquisition signifies Diageo's strategic move to strengthen its presence in India's rapidly expanding premium craft spirits market.
USL to buy Greater Than gin maker
BENGALURU: United Spirits (USL), the Indian arm of global liquor major Diageo, will acquire a 100% stake in Nao Spirits & Beverages, the maker of popular Indian craft gin brands Greater Than and Hapusa, in a two-step transaction valued at about Rs 110 crore. The deal marks Diageo's push into India's fast-growing premium craft spirits segment. USL currently owns 30% of Nao Spirits. Founded in 2017 by Anand Virmani, Nao Spirits emerged as a leader in the craft gin space.The firm reported a gross turnover of Rs 77.7 crore and net sales of Rs 34.8 crore in 2023-24. Virmani will continue to lead the business under Diageo's ownership.
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