Seven years after initially buying into Mr Black, Diageo has confirmed the full acquisition of the Australian cold brew coffee liqueur.
The nine-year-old brand, which according to IWSR Drinks Market Analysis figures cited by Diageo is “the leading premium-priced coffee liqueur [by volume] in the US”, joins Baileys in the group’s liqueur portfolio. Diageo first purchased a minority stake in the start-up through its Distill Ventures brand incubator partner in 2015.
Financial details behind today’s announcement were not disclosed.
Since its launch in 2013, 23%-ABV Mr Black has been released in 22 markets worldwide, led by the US. Co-founder Tom Baker will “remain actively involved with the brand”, which retails in the US for around US$40 per 75cl bottle.
Earlier this month, Diageo offloaded one of its lower-priority liqueurs, selling peach schnapps Archers to De Kuyper Royal Distillers.
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