Spirits giant snaps up Herefordshire distillery
Spirits giant Diageo has agreed a deal to snap up Herefordshire gin and vodka maker Chase Distillery.
The entrepreneur behind Chase Distillery is William Chase, who sold Tyrrells Potato Chips to Langholm Capital in 2008.
The acquisition, for an undisclosed sum, by the Tanqueray and Gordon’s owner is expected to close in early 2021 subject to regulatory clearances.
Chase grows its own potatoes and apples on its farm in rural Herefordshire to produce its premium vodka, gin and liqueurs.
Established in 2008, the business exports worldwide and customers include Waitrose, Harvey Nichols, Fortnum & Mason, Selfridges, and Claridges.
Dayalan Nayager, managing director, Diageo Great Britain, said: “We are thrilled to be bringing such a quintessentially British portfolio of high quality, crafted brands into our family. We are excited about the growth opportunity within the premium plus segment and are very much looking forward to working with the Chase team to build on the portfolio’s considerable potential.”
William Chase added: “It’s inspiring to have Diageoinvest in Chase Distillery’s future. They believe in the potential of our field to bottle spirits and will build on our mission to develop our sustainable distillery in Herefordshire.”
Gurinder Sunner, head of BGF’s Midlands office who oversaw the deal alongside BGF investor, Joanne Smith, said: “We’ve thoroughly enjoyed working with William and the wider team at Chase Distillery. As a British, family-owned business, they have developed a premium product and brand that resonates with its consumers and have been steadfast in their vision for the future.
“The business understands the necessity of quality and care in crafting high-end spirits in a competitive market and our investment has helped to facilitate growth – both in the UK and internationally.”
Gateley Legal acted for Chase on the deal, led by corporate partner Simon Gill.