India’s United Spirits, the local subsidiary of global spirits giant Diageo, announced on Thursday the acquisition of NAO Spirits, the maker of well-known craft gin brands ‘Greater Than’ and ‘Hapusa.’ The deal, valued at approximately 1.3 billion rupees ($15.2 million), including debt, aims to strengthen United Spirits’ presence in the premium liquor segment.
NAO Spirits, launched in 2017 and previously part of Diageo’s investment arm Ventures, is recognized for its flagship brand ‘Greater Than,’ which was India’s first craft gin. The acquisition reflects United Spirits’ strategy to capitalize on shifting consumer preferences driven by rising disposable incomes among India’s upper middle class and affluent population.
Increasing openness to casual drinking and demand for innovative, authentic craft products has fueled growth in premium liquor consumption.
The ‘Hapusa’ gin, priced above 3,000 rupees per bottle, is distinguished by its unique formulation using foraged Himalayan juniper and other botanicals, positioning it as one of the world’s few true craft gins.
United Spirits highlighted that the premium segment’s growth significantly contributed to its financial performance, with standalone profit in the fourth quarter rising 17% to 4.51 billion rupees ($52.72 million). Net sales in the premium category outpaced overall sales growth, underscoring the robust demand for high-end spirits in India’s evolving market.
You Might Be Interested In:
