Angel’s Envy founder invests in Bourbon brand

A new spirits sales and marketing firm launched by the co-founder of Angel’s Envy Bourbon has acquired a majority stake in Kentucky-based Corner Creek Reserve Bourbon Whiskey.

Launched in February this year by Jay Maltby with the backing of a US$30 million spirits venture fund, The Espiritus Group has national distribution rights for all of the products in its portfolio, as well as “varying levels of equity participation” in each.

It invests US$3m-US$10m in “high-potential spirits brands”.

Other brands in the group’s portfolio include: Blue Nectar Tequila, The Lost Distillery Scottish Whisky Company, Purus Organic Wheat Italian Vodka, and Virginia Distillery Company Highland Malt Whisky.

Its acquisition of a majority stake in Corner Creek Distillery Co., maker of Corner Creek Reserve Bourbon Whiskey, will allow the brand to increase sales and distribution.

A blend of whiskeys aged up to eight years, the Bourbon brand was founded in 1998 by Ted Kraut and Eliot Levin.

Kraut has relinquished his shares in the company but will continue to work with the firm as a consultant, while Levin will “remain a significant shareholder” and “work closely” with the Espiritus team.

“Corner Creek has many of the same qualities of Angel’s Envy – great taste, distinctive package, and loyal customers,” said Jay Maltby, who also served as CEO of Cruzan Rum and executive committee member at Bacardi USA. “Most importantly, in a growing Bourbon market, it has a stock of mature Bourbon.”

Available in limited quantities, Corner Creek Bourbon initially secured stocks of mature whiskey from third party distillers and also distilled and aged its own supply of liquid.

Chuck Chand, Espiritus co-founder and COO, said: “Corner Creek has the building blocks in place for breakout growth. Espiritus has a knowledgeable and experienced sales force which will build upon Corner Creek’s strong foundation.”