Drinks giant Diageo has reached a deal to acquire Texas-based Balcones Distilling, according to a statement from both companies. Founded in 2008 by Chip Tate, Balcones is known for being a leading producer of American Single Malt Whisky.
“Balcones started with an idea driven by an innovative spirit and passion to create something original and authentic in the heart of Texas. We are thrilled that Diageo shares our belief in its potential and we look forward to seeing Diageo bring Balcones’ incredible whiskies to more consumers” said Balcones Distilling chairman Greg Allen.
Balcones Distilling is considered one of the most successful craft distilleries in the U.S. and has developed a cult following in recent years for its varying whiskey lineup which includes offerings like its Texas “1” American Single Malt, Lineage American Single Malt and Baby Blue Corn Whisky.
Diageo has stayed busy with investment activity of late, acquiring coffee liqueur brand Mr. Black and flavored tequila 21 Seeds in the last six months.
“We are delighted to welcome Balcones Distilling into Diageo. The Balcones team are true innovators and pioneers in the emerging American single malt and Texas whiskey movements, and their super-premium-plus whiskies are highly complementary to our whiskey portfolio,” commented Claudia Schubert, president of Diageo North America.
The acquisition has been funded through existing cash resources.