WACO, Texas (FOX 44) – Waco-based Balcones Distilling has been acquired by the Diageo beverage company.
Diageo said in a statement on Wednesday that this acquisition was funded through existing cash resources.
“We are delighted to welcome Balcones Distilling into Diageo,” says Diageo North America President Claudia Schubert. “The Balcones team are true innovators and pioneers in the emerging American Single Malt and Texas whisk(e)y movements, and their super premium plus whiskies are highly complementary to our whisk(e)y portfolio. This acquisition is in line with our strategy to acquire high growth brands in fast growing segments, such as super premium whisk(e)y, and we look forward to working with the Balcones team to support further growth for these world-class whiskies.”
“Balcones started with an idea driven by an innovative spirit and passion to create something original and authentic in the heart of Texas,” said Balcones Distilling Chairman Gregh Allen. “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.”
Balcones was founded in Waco in 2008, and is a celebrated player in the emerging whisk(e)y movement in Texas, according to Diageo. They say Balcones has “a diverse portfolio of award-winning super premium and above whiskies, including Texas “1” American Single Malt, Lineage American Single Malt and Baby Blue Corn Whisky.”