United Spirits Picks Up 10.08% Stake in Nuvola Spirits

United Spirits Ltd (USL), the Indian arm of Diageo Plc, has acquired a 10.08% stake worth INR 2.69 crore in liquor startup Nuvola Spirits Pvt Ltd.

Founded in 2023 by husband and wife duo Akriti Kochhar Sachdeva and Raghav Sachdeva, Nuvola’s portfolio features globally-inspired beverages. Its first brands were Mikiamo and Seoulmate which were Italian-style liqueur and Korean-inspired soju brand respectively. 

Since launching its first products in 2024, the Mikiamo Limoncello company has steadily expanded its portfolio by introducing new international beverage formats to the Indian market.

“This partnership marks a defining moment for Nuvola Spirits,” founders Aakriti Kochhar Sachdeva and Raghav Sachdeva said. “Having USL partners with us is a strong validation of our vision. Their investment will help us accelerate growth, strengthen our portfolio and continue building brands that redefine India’s premium craft spirits landscape.”

For United Spirits, the investment aligns with its market positioning strategy as consumer demand shifts towards high-quality and niche alcoholic beverages. 

“India’s craft alcohol landscape is evolving rapidly, creating exciting opportunities for differentiated brands and new consumer propositions,” said Praveen Someshwar, MD and CEO of Diageo India (United Spirits). “Nuvola Spirits is tapping into this shift with a distinctive portfolio across emerging categories. Our investment reflects our conviction in backing bold entrepreneurs and innovative Indian craft brands with the potential to shape the future of the industry.” 

The agreement also provides United Spirits with customary investor protection rights, including the ability to appoint one director and one board observer at Nuvola Spirits. It includes tag-along and drag-along rights, while the founders retain the right of first offer if United Spirits decides to transfer its stake. The company clarified that the transaction is not a related-party deal and that neither its promoters nor promoter group have any existing interest in Nuvola Spirits.