(Alliance News) - The UK Competition & Markets Authority on Thursday said it has decided against referring Diageo PLC's takeover of Chase Distillery Holdings Ltd to a phase two investigation.
Spirit giant Diageo first announced the deal to buy Herefordshire gin and vodka-maker Chase Distillery in October last year. The takeover, for an undisclosed amount, will see the Johnnie Walker and Gordon's owner further expand its UK gin business, as customer demand for premium spirits, and gin in particular, continues to surge.
Chase Distillery was founded by entrepreneur William Chase in 2008 and has a portfolio which includes seven gins, four vodkas, and an elderflower liqueur.
Shares in Diageo were up 1.8% at 3,035.00 pence in London on Thursday.
By Lucy Heming; lucyheming@alliancenews.com
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Diageo (DGE)
