Diageo takes share of Ketel One

Diageo, the largest alcoholic drinks producer in the world, has bought into The Nolet Group, owners of Ketel One vodka.

Diageo said in a press statement that it has finalized a deal first announced in February, paying $900 million for a 50% equity stake in the Dutch company and has "perpetual exclusive global rights to sell, market and distribute" the vodka.

The Nolet family, which began distilling in 1691, will continue to own the brand rights for Ketel One and the Nolet distillery in Schiedam, the Netherlands.

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