The acquisition of Chase Distillery by global drinks brand Diageo has now been finalised for an undisclosed sum.

Announced in October last year, the conclusion of the deal follows the Competition and Markets Authority’s confirmation of regulatory clearance on February 11.

"Everything has gone through," said Chase director James Chase. "This starts an exciting new chapter for the brand in Herefordshire.

"It will be business as usual," he added. "As a family we will still have the site and the distillery and other tenants on the site will not be affected, and for the very short term, things won't change for the brand but over the long term, more resources will be invested in the site and in the shop."

Mr Chase was keen, too, to "quash any rumour that distribution will be moved anywhere else. The main benefit of this deal will be increasing our distribution around the world, something we have always been looking for and are supportive of."

Founded in 2008, Chase Distillery has been at the forefront of the craft spirits movement, producing gins and vodkas made from scratch on the farm, and says Mr Chase, "finding a partner has always been on the cards. We have always been looking, but we wanted to make sure that partner was the right fit, and there are very few spirits companies which are British based with sustainable credentials."

“We are delighted to welcome Chase Distillery and its quintessentially British portfolio of high quality, crafted brands to Diageo. We are very much looking forward to working with the Chase team to build on the portfolio’s considerable potential,” said Dayalan Nayager, Managing Director, Diageo Great Britain.

Diageo already own big-name brands including Captain Morgan's rum, Smirnoff Cocktails and Bailey's, and Chase's chairman and founder William Chase said "It's inspiring to have Diageo invest in Chase Distillery's future.

Chase has put Herefordshire on the map with its Chase GB Gin and flavoured gins, which include Pink Grapefruit and Pomelo, Seville Marmalade and Rhubarb and Bramley Apple Gin.

"They believe in the potential of our field to bottle spirits and will build on our mission to develop our sustainable distillery in Herefordshire."

Chase's contribution to Herefordshire's tourism industry is also key to the family, and is something Diageo is known for: "They have an amazing reputation for making tourism a priority."

In 2018, it was reported that Diageo had driven year-on-year growth in visitor numbers to its distilleries for a decade.

"We have always had Herefordshire's best interests at heart," says James Chase, "and we're confident that this deal will benefit Herefordshire's hotels, restaurants and wider tourist trade."

A spokesperson for Diageo added: "Sustainability and a relentless focus on quality are at the heart of everything the Chase Distillery does.

"The spirits portfolio is distilled from scratch using British-grown potatoes, apples and all-natural botanicals on the Chase Farm in Herefordshire.

"The steam energy used to run the distillery is produced on site from a biomass boiler powered by prunings from the apple orchard, with potato waste used as fertiliser to feed the farm's cattle.

"We have worked exceptionally hard to get it to this point," says James Chase, "and as a family we are super happy about this deal. This new chapter will get the Chase name around the globe.

"In the first instance, the focus will be on marketing and distribution, and the third element will be investment into the site at Rosemaund where we will look to improve and increase production.

"But the whole 'field to bottle' process will stay the same and the quality of the spirits will remain gold standard."