Seedlip offerings portfolio includes Spice 94, Garden 108 and Grove 42. Credit: © Diageo.

British multinational alcoholic beverages company Diageo has acquired a significant stake in the distilled non-alcoholic spirits brand Seedlip.

Financial details of the acquisition have yet to be divulged by either of the companies.

In 2015, Seedlip was introduced by its founder Ben Bransonin to solve the dilemma of ‘what to drink when you’re not drinking’.

Diageo Europe, Turkey and India president John Kennedy said: “Seedlip is a game-changing brand in one of the most exciting categories in our industry.

“Ben is an outstanding entrepreneur and has created a brand that has truly raised the bar for the category. We’re thrilled to continue working with him to grow what we believe will be a global drinks giant of the future.”

The British firm noted that Ben will continue his association with the company as one of the shareholders, as well as director and will be working with Seedlip and Diageo team to support Seedlip’s future success.

In June 2016, Distill Ventures, an accelerator programme backed by Diageo, made a minority investment in Seedlip.

With the funding provided by Diageo, Distill Ventures supports entrepreneurs who launch new and innovative drinks brands.

Seedlip will be joining Diageo’s portfolio as the first non-alcoholic brand acquired through Distill Ventures.

Ben said: “We want to change the way the world drinks and today’s news is another big step forward to achieving this. Distill Ventures’ and Diageo’s shared belief in our vision has enabled us to build a business that’s ready for scale and I’m excited to continue working with Diageo to lead this movement.”

Over the last three and a half years, Seedlip has expanded its product footprint to more than 25 countries. Its three product offerings including Spice 94, Garden 108 and Grove 42 are now available in more than 7,500 bars, restaurants, hotels and retailers across the globe.