Distil, a UK-based company and the owner of various alcoholic brands, has forged a joint venture (JV) and collaboration agreement with British Honey Company (BHC), a distiller and infused spirit brand owner based in the UK.

Under the agreement, both the companies will invest an initial cash sum of £30,000 to jointly produce and distribute a new range of branded botanical spirits as well as other products in the country.

Distil executive chairman Don Goulding said: “I am very pleased to partner with BHC to facilitate an accelerated innovation agenda and more nimble product development capability.

“The joint venture will facilitate the creation and marketing of exciting new products and will improve Distil’s capability to develop and refresh its own brand portfolio.

“This new collaboration brings together complementary capabilities which will benefit both companies and we look forward to communicating our progress in the coming months.”

The partners will equally own all the intellectual property rights in newly created brands, as well as recipes. Revenues will also be shared equally by the companies.

Under the collaboration, both Distil and BHC will get a new platform to accelerate product innovation, which will benefit the JV and their broader businesses.

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Additionally, the agreement will allow Distil to access BHC’s distillery and collaborate with its Master Distiller to create products under Distil brands.

Distil has also agreed to assist BHC with the marketing and distribution of its brands and provide higher consumer and trade insights.

Established in 2014, BHC offers fruit and honey-infused spirits, marketed under the Keepr’s brand.