Blavod and Suntory have signed a deal to form a joint venture company developing premium spirits brands. The company, to be called Diamante, will focus on high growth market segments, such as premium vodka, tequila, rum and gin. The first product is expected later this year. Suntory will provide the funding for the joint venture to cover development, operating and marketing costs, while Blavod will be responsible for creation of new products, as well as marketing and distribution. Jeff Hopmayer, Blavod’s chief executive, said: "Suntory's global reach, production expertise and years of market experience, combined with Blavod's success in creating new, exciting products, will give the joint venture the tools to create an instant presence in the spirits industry."