Diageo Announces Minority Investment In Ritual Zero Proof
Diageo has announced a minority investment in Ritual Zero Proof, a spirit alternative developed to echo the taste and aroma of spirits.
The investment, which will be undertaken through Diageo's Distill Ventures platform, will help drive growth for Ritual in the US, by enhancing its direct-to-consumer business and supporting its entry into he retail sector.
As well as a financial investment, Ritual will also be able to call upon the support of Distill Ventures' non-alcoholic drinks practice in furthering the development of the business, according to Diageo.
Ritual, which includes whiskey and gin variants, was founded by Marcus Sakey, GG Sakey and David Crooch to meet demand for flavourful alternatives for those choosing not to drink.
According to co-founder Sakey, Ritual Zero Proof is part of a "movement", similar to almond milk or veggie burgers.
"In 18 months, we predict non-alcoholic options will be on every menu and the shelves of every grocery store," he said. "Americans want more choice, and Ritual Zero Proof is all about more – more flavour, more moments, more life, that is. It’s the only American-made spirit alternative to echo the taste, smell and burn of a spirit – without the alcohol or calories.”
Commenting on the investment, Eugene Khabensky, ventures director, Diageo, said, “We are excited to support such an interesting new brand in the vibrant non-alcoholic space. We put the consumer at the heart of our business, and Ritual Zero Proof is a fantastic offering that provides consumers with more choices of the highest quality.”
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.