Diageo: announces acquisition of Far West Spirits

(CercleFinance.com) - Diageo announced on Monday that it has acquired Far West Spirits LLC, owner of the Lone River Ranch Water brand, a hard seltzer inspired by the popular classic Texas cocktail "Ranch Water".


Lone River was founded in 2019 by Texas native Katie Beal Brown. She will retain a minority stake and will continue to run the business on a day-to-day basis as the brand's CEO. She will work closely with Diageo North America executives to build on Lone River's success.

This acquisition is very much in line with the group's strategy of acquiring premium brands in fast-growth categories.


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