Diageo has announced the acquisition of Balcones Distilling (‘Balcones’), a Texas craft distiller and one of the leading producers of American single malt whisky in the United States.
Founded in Waco, Texas in 2008, Balcones has a diverse portfolio of whiskies, including Texas “1” American Single Malt, Lineage American Single Malt and Baby Blue Corn Whisky.
Greg Allen, chairman at Balcones Distilling, said: “Balcones started with an idea driven by an innovative spirit and passion to create something original and authentic in the heart of Texas. Now, we couldn’t be prouder to have created these award-winning American Single Malt and Texas whiskies, but also to have helped initiate an exciting new era of whisk(e)y in Texas.”
The team also leverages quality, and often locally sourced, original ingredients, including Texas-grown malted barley and roasted blue corn, to produce a range of whiskies.
Claudia Schubert, president of Diageo North America, said: “The Balcones team are true innovators and pioneers in the emerging American single malt and Texas whisk(e)y movements, and their super premium plus whiskies are highly complementary to our whisk(e)y portfolio.
“This acquisition is in line with our strategy to acquire high growth brands in fast growing segments, such as super premium whisk(e)y, and we look forward to working with the Balcones team to support further growth for these world-class whiskies,” Schubert added.
The acquisition has been funded through existing cash resources.