FDBusiness.com

Diageo, via its Distill Ventures accelerator for new and growing brands, has invested in Ritual Zero Proof, a US alcohol-free spirits brand. The investment will help drive Ritual’s growth in the US, investing in its direct-to-consumer business and supporting its entry into retail. Alongside the cash investment, the Ritual founders will be able to access the support of Distill Ventures’ dedicated non-alcoholic drinks practice in developing the business over the coming years.

As is customary with all companies that work with Distill Ventures, the founders and current investors of Ritual will retain majority ownership, with Diageo holding a minority stake. They will continue to run the business independently as the company continues to expand.

Founded in London in 2013, Distill Ventures is the world’s first independent drinks accelerator, with the mission to support entrepreneurs on their quest to establishing and scaling brands for future generations of consumers. The company is active in both traditional spirits categories and emerging drinks categories across Europe, Asia and North America. Ritual is the first public non-alcoholic brand from the United States to join the company’s growing portfolio of international non-alcoholic brands, which make up 25% of the entire portfolio.

To date, more than 15 brands have received investment via Distill Ventures, including: Stauning, one of Europe’s standout new whiskies from Denmark; Starward, a distinctive Australian whisky, exclusively matured in Australian wine barrels; Westward, a leading American single malt whiskey from Northwest provenance; Seedlip, the world’s first non-alcoholic distilled spirits brand, which was majority acquired by Diageo in 2019; and Belsazar, a German aperitif acquired by Diageo in 2018.