By Adria Calatayud

Diageo PLC (DGE.LN) said Wednesday that it has bought a majority stake in Seedlip, a distilled non-alcoholic spirits brand, as the Guinness and Smirnoff maker seeks to tap into growing demand for alcohol-free drinks.

The world's largest liquor maker, which also owns Johnnie Walker whisky and Tanqueray gin, said its Distill Ventures accelerator program made a minority investment in Seedlip in 2016.

Diageo said Seedlip is the first non-alcoholic brand it has acquired through Distill Ventures. The value of the deal wasn't disclosed.

Headquartered on a farm in The Chilterns, England, Seedlip is now stocked in over 7,500 bars, restaurants, hotels and retailers across more than 25 countries, Diageo said. Seedlip founder Ben Branson will remain involved in the business as a shareholder and director, Diageo said.

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

(END) Dow Jones Newswires

August 07, 2019 10:00 ET (14:00 GMT)

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