Diageo’s Indian subsidiary, United Spirits, has agreed to buy a 10% stake in Nuvola Spirits, a company that makes products with Italian and Korean flavour profiles.
Nuvola Spirits was established in August 2023 by Raghav Sachdeva and Aakriti Sachdeva to tap into the ‘growing consumer appetite for globally-inspired beverages’.
The New Delhi-based business is behind Korean-style soju Seoulmate, and India’s ‘first’ limoncello, called Mikiamo. It also produces Italian-inspired liqueurs Meloncello and Amaro Rosso.
On 22 July, Nuvola Spirits entered into an agreement with United Spirits to sell a 10.08% stake in its business for INR 2.69 crore (US$280,000) after the latter gained board approval.
Nuvola’s revenue entirely comes from India, with its unaudited full-year 2025/2026 sales reaching INR 3.5 crores (US$365,000), up from INR 0.38 crores (US$39,700) for the previous year.
Diageo’s Indian business recently announced a 51.6% rise in its unaudited first-quarter results, propelled by double-digit growth in the Prestige & Above segment.
In March 2026, United Spirits divested its Premier League cricket business to a consortium for INR 166.6 billion (US$1.77bn), following a strategic review.
The company has also made several investments over the past 12 months. In January this year, United Spirits increased its stake in the parent company of alcohol-free producer Sober Spirits.
Last summer, Diageo’s Indian subsidiary snapped up a majority controlling stake in Goa-based gin producer Nao Spirits for INR 130 crores (US$15.2 million).
United Spirits also purchased a minority stake in the owner of Indian agave spirit Maya Pistola in April 2024.
It also announced the shuttering of two manufacturing sites in Hyderabad, following another closure in Uttar Pradesh in 2023.
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