Diageo India Acquires NAO Spirits in $15.6M Deal, Boosting India’s Craft Gin Revolution

Diageo India (United Spirits Limited) announced the acquisition of a majority controlling stake in NAO Spirits, the maker of celebrated Indian craft gin brands ‘Greater Than’ and ‘Hapusa’, at an enterprise value of approximately $15.6 million USD. With this, NAO Spirits becomes a subsidiary of Diageo India, marking a pivotal expansion into the nation’s booming craft alco-bev space.

Founded in 2017 by Anand Virmani, NAO Spirits has been a pioneering force in India’s craft spirits scene, introducing the country’s first homegrown gin with globally inspired botanical infusions. The brand portfolio includes Greater Than — a crisp, London Dry-style gin made with 9 handpicked botanicals — and Hapusa, a Himalayan gin crafted with foraged juniper berries and exotic Indian herbs. In 2024, the brand also ventured into craft rum with PIPA, an aged spiced rum made from jaggery and matured in imported oak casks.

Diageo’s Strategic Bet on Craft Innovation

“This acquisition is a natural progression of our Ventures strategy — investing in bold, homegrown alco-bev startups that reflect the evolving tastes of modern India,” said Praveen Someshwar, MD & CEO, Diageo India. “NAO Spirits fits perfectly with our ambition to create a premium, future-ready portfolio. We’re excited to scale their vision with our distribution muscle and expertise.”

NAO Spirits’ integration comes at a time when Indian consumers are increasingly shifting toward premium, artisanal experiences, celebrating locally sourced ingredients and experimental blends. Diageo, with its global reach and legacy, is set to amplify NAO’s unique offerings while preserving its craft-first ethos.

Diageo India Acquires NAO Spirits – Hapusa, Greater Than Gin and PIPA Craft Rum 

Anand Virmani Stays On to Lead the Craft Charge

Despite the acquisition, Anand Virmani will continue to lead NAO Spirits, ensuring its creative and entrepreneurial spirit remains intact. “Becoming part of Diageo India is not the end — it’s the beginning of a new, exhilarating chapter,” Virmani said. “Our DNA remains the same — we’re still the passionate creators of India’s first craft gin, and we’ll keep pushing boundaries.”

Anand Virmani emphasized how the strategic alliance would allow them to scale operations, expand globally, and strengthen product innovation — all while staying deeply rooted in Indian terroir.

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A Toast to India’s ‘Make in India’ Booze Boom

The acquisition not only underscores India’s rising ‘Make in India’ beverage movement but also validates the strength of the domestic craft spirits category. NAO Spirits has played a key role in educating Indian consumers about gin and elevating cocktail culture through award-winning offerings.

Why This Matters:

• For Consumers: Access to more authentic, high-quality, locally made craft spirits

• For Diageo: Expansion into the premium Indian spirits category with proven brands

• For India: A global vote of confidence in India’s capability to produce world-class beverages

With global brands like Tanqueray already in its portfolio, Diageo’s acquisition of NAO Spirits creates a dynamic synergy — blending legacy with local innovation. As India’s palate evolves, this move signals a future where Indian-crafted spirits compete confidently on the global stage.