Chilco River Holdings has expanded its product range with a move to acquire Canada-based Daru Whiskey.

The deal is the latest acquisition by Chilco River Holdings, a fledgling, publicly-traded US company, which, under previous guises, was previously focused on the casinos and minerals sectors.

Daru Whiskey was set up in 2020 by two brothers inspired by their father’s distilling of his own spirits in India. The firm’s flagship product is made from a Canadian corn mash-bill and aged for three years in Canadian oak barrels.

In a statement, Chilco River Holdings said it had bought Daru Whiskey “in an all-restricted stock transaction, aligning long-term incentives between both organisations and reinforcing a shared vision for growth”. Terms were not disclosed.

The new owner plans to increase Daru Whiskey’s distribution in the off- and on-premise. Its products are sold through Total Wine & More. The business also has a distribution agreement in place with Southern Glazer's Wine and Spirits in California.

“We believe Daru has significant runway for growth across new states, retail channels, and international markets, and we are excited to accelerate that expansion,” Chilco River Holdings CEO Will Lovett said.

Last month, Chilco River Holdings announced a deal to buy US RTD firm Excuse Mix. The transaction came six weeks after the company said it had agreed to acquire a majority stake in US Bourbon business Mr. Cliff’s Premium Spirits.

Chilco River Holdings was formed in 2003 under a different name and centred on the casinos and gaming industry.

At the start of the 2010s, the company moved to focus on natural resources and minerals. In 2021, the firm was acquired by a group of investors including Lovett and switched its focus to the beverage-alcohol sector.