On Wednesday, global beverage corporation Diageo announced its acquisition of Ritual Zero Proof Non-Alcoholic Spirits. According to a press release, the acquisition furthers Diageo’s Growth Ambition, the company’s strategic plan to achieve sustainable growth through fiscal 2025 and beyond. The move also positions Diageo as the No. 1 NA spirits player in the world, as the conglomerate now holds the leading market share position in the three biggest non-alcoholic markets globally.
Four years ago, Diageo purchased a minority stake in Ritual Zero Proof through Distill Ventures, which works in partnership with the corporation to financially and strategically support founders in launching, growing, and scaling up-and-coming drinks brands.
