Swansea-founded Au Vodka has reportedly been sold to American spirits giant Sazerac.

The deal remains subject to completion conditions and is expected to be finalised in the coming weeks for a sum of £500m, according to a report by Sky News.

In a statement, Sazerac said it is “pleased to announce that it has entered into a binding agreement to acquire Au Vodka, a UK-based vodka and RTD brand. Sazerac works continuously to grow its business by investing in brands and building out its portfolio globally to connect with consumers. The United Kingdom is an important market for Sazerac, and this opportunity enables the company to deepen its presence in the UK”.

Au Vodka was founded in 2015 by Charlie Morgan and Jackson Quinn, who in 2017, sold a stake to DJ and then Radio 1Xtra presenter Charlie Sloth.