Page 29 - Chase Case Study

The environment in the gin market was buoyant, the brand

was strong, in terms of the premium crafted segment, at a
time when consumer and market trends were harmoniously

coalescing.

Carter and the board developed a five-year plan to grow the

business, setting targets that they overdelivered on, prior to

considering future investment options. It was at this point,
whilst reviewing future options, that larger spirits companies

began to show an interest in acquisition of them and

subsequently entered the board’s options list for strategic

consideration.

After meeting a number of spirits companies, it was decided
to proceed with the sale of Chase Distillery to drinks

conglomerate Diageo in 2020. BGF then sold its stake in

Chase Distillery to Diageo whilst Carter agreed to manage
the final stages of Chase’s integration with Diageo before

joining Chapel Down England’s biggest wine business.

The acquisition by Diageo received regulatory clearance by

the Competition and Markets Authority’s (CMA) on 11
February 2021.