Not Your Typical Berlin Startup: Vermouth, Swallowed by Diageo
- The drinks giant pays an undisclosed price for Belsazar
- ‘No intention of gutting a business they just bought’
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Berlin startups typically conjure up images of tech companies run by tattooed kids in skinny jeans who commute from cheap apartments to industrial-loft offices on fixie bikes. Sebastian Brack and Maximilian Wagner had a more traditional take: Vermouth, the herb-infused wine that’s the basis of many cocktails.
In 2013, the duo founded Belsazar GmbH to produce vermouth using wines from southern Germany and the stills of a nearby spirits producer. Initial funding came from family and friends, and when their bank balked at pumping in more cash for growth, Diageo Plc’s incubator stepped in, taking a 20 percent stake. On Thursday, the drinks giant said it will take full control of Belsazar, for an undisclosed price.