Taste Radio

What compelled Diageo, one of the largest CPG companies in the world, to invest in non-alcoholic spirit brand Ritual Zero Proof, which at the time of the funding deal was pre-launch and operating in a nascent category? The short answer is that it gave them — and, more importantly, their consumers — options. Launched in 2019, Ritual Zero Proof is a brand of non-alcoholic spirits crafted from natural botanicals and designed to mimic the flavor and burn of a classic spirit. The brand markets gin, whiskey, tequila, rum and aperitifs and is available nationally at retailers including Total Wine and Binny's Beverage Depot, as well as select Kroger banners and Hy-Vee locations.  Shortly before the debut of Ritual Zero Proof, the brand received a minority investment from global beverage alcohol company Diageo via its partnership with Distill Ventures, a venture capital firm and accelerator that invests in disruptive distilled spirit companies and non-alcoholic beverage brands.  In a press release about the deal, Ritu