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    DIAGEO AND NOLET TO FORM A 50/50 COMPANY TO ...

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    MultiVu

    by MultiVu

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    Diageo, the world's leading premium drinks company announced today the purchase of a fifty percent stake in a company that will sell, market and distribute Ketel One globally. Diageo and Nolet, the owner of Ketel One vodka, have agreed to form the new company together.

    Diageo will pay close to a billion dollars for its 50 percent stake in the company, which will be based in the Netherlands. Consumer interest in high-end cocktails is a popular and growing trend, one that is driving the spirits share in a very competitive beverage alcohol segment. As a super-premium vodka, Ketel One will complement Diageo's Smirnoff brand and its ultra premium offering Ciroc Vodka in North America. The Ketel One brand is strong, particularly in the US, where it sells 1.9 million cases annually.

    The Nolet family will continue to own and operate their distillery in Holland, as they have for more than 300 years. With this deal, the Ketel One family will begin introducing its heritage and tradition to even more vodka aficionados around the world.