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UK's Diageo acquires German aperitif brand Belsazar

Alcoholic beverage maker Diageo PLC said March 15 that it acquired German aperitif brand Belsazar GmbH through its business accelerator Distill Ventures.

Details of the transaction were not disclosed.

Distill Ventures, which is independently run with funding from Diageo, identifies and invests in small beverage companies. Belsazar joined Distill Ventures in 2014 and has seen strong performances in the U.K. and Germany, according to Diageo.

The German drink maker will further expand Diageo's portfolio of brands, which includes Johnnie Walker, Smirnoff and Captain Morgan.

Belsazar co-founders Maximilian Wagner and Sebastian Brack will remain involved in the company.