Reported about 6 hours ago
Diageo-controlled United Spirits is set to acquire a majority controlling stake in India's Nao Spirits for approximately Rs1.3bn ($15.2m), initially owning 97.07% after the first tranche. This investment follows earlier stakes purchased over the past three years in Nao Spirits, known for its craft gin brands like Hapusa and Greater Than. United Spirits' CEO declared the acquisition a key move for future growth in the craft spirits market.
Source: YAHOO