Beverages provider Diageo has paid an undisclosed amount to acquire Belsazar, a Germany-based aperitif producer that is also a graduate of its Distill Ventures accelerator.
Belsazar has developed its own brand of vermouth which is available in more than 750 German outlets including gastronomy bars, restaurants and biergardens, as well as selected locations in the UK.
The company has not revealed details of any funding, but it graduated from Distill Ventures in 2014 and is the first such graduate to be acquired by Diageo.
Participating startups can receive between £175,000 and £10m ($240,000 to $14m) from Distill Ventures, but Diageo gets an option to acquire each startup as part of the deal.
Frank Lampen, head of Distill Ventures, said: “Belsazar was one of the first Distill Ventures investments and we have worked closely with the founders over the past four years. This first acquisition is therefore a very exciting moment for us, Diageo and the Belsazar team.”