Diageo has acquired Texas whiskey distillery Balcones. (Image via Diageo)

Big news came out of Diageo Wednesday morning when the spirits conglomerate announced it has acquired prominent Texas distillery Balcones, which is located in Waco.

Balcones joins a long list of all-star brands owned by Diageo that includes Johnnie Walker, Crown Royal,  Smirnoff, Captain Morgan, Baileys and Guinness. Balcones has made a name for itself and can hold its own next to better-known brands. In fact, the brand has earned more than 500 national and international tasting awards for its spirits, according to Diageo.

This move comes after the whiskey segment has grown consistently in the past few years.  According to a released statement from Diageo, “The super premium and above whisk(e)y segment has seen consistent volume growth in the US in recent years, with a compound annual growth rate (CAGR) of 13.3% from 2016 to 2021.^[i] Within that, American Single Malt Whisky has been a momentum driver, with 18.2% CAGR over the same period.”

Financial details of the acquisition were not disclosed.

“We are delighted to welcome Balcones Distilling into Diageo,” Claudia Schubert, president of Diageo North America, said. “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.”

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