Diageo plc (LSE:DGE) acquired remaining 55% stake in Mr Black Spirits Pty Ltd. on September 29, 2022. Diageo plc was already an associate of the Mr Black Spirits Pty Ltd with 45% ownership. The transaction was funded through existing cash resources. Co-founder of Mr Black, Tom Baker, will remain actively involved with the brand, working with the Diageo team to build on Mr Black's success.

Diageo plc (LSE:DGE) completed the acquisition of remaining 55% stake in Mr Black Spirits Pty Ltd. on September 29, 2022.