Diageo, has announced that it has acquired the Waco, Texas based craft distiller Balcones, for an undisclosed sum.
Founded in 2008, Balcones has gone on to be one of the leading producers of American single malt whisky in the United States.
|Diageo acquires Balcones|
Balcones embraces Texas’ intense heat as well as its temperature fluctuations to create whiskies with differentiated flavours. The team also leverages distinctive high quality, and often locally sourced, original ingredients, including Texas-grown malted barley and roasted blue corn, to produce a range of highly decorated whiskies.
Commenting on the news, Greg Allen, Chairman of 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. We are thrilled that Diageo shares our belief in its potential and we look forward to seeing Diageo bring Balcones’ incredible whiskies to more consumers.”
The super-premium whisky market has seen consistent volume growth in the US over the recent years, with an annual growth rate of 13.3% from 2016 to 2021. American single malt whisky has been a key driver with an increase of 18.2% over the same period.
Posted by Steve Rush