United Spirits Limited — JV/Acquisition, 19-06-2025: Acquisition

United Spirits Limited (Diageo India) has announced a board meeting regarding its acquisition of Nao Spirits & Beverages Private Limited. The deal values NAO at an enterprise value of INR 130 Cr. Diageo will increase its stake from 30% to 100% through a share purchase and fresh subscription totaling ~INR 110 Cr. NAO, a leader in the Indian premium craft gin segment with brands like ‘Greater Than’ and ‘Hapusa,’ complements Diageo’s international premium gin portfolio. This acquisition provides Diageo with strong exposure to the growing craft spirits market and enhances its premium beverage offerings in India.