Castle Brands buys US$4.2m of Bourbon stocks

5th January, 2018 by Nicola Carruthers

US spirits firm Castle Brands has purchased US$4.2 million worth of mature and new-fill Bourbon stocks to “accelerate the growth” of its Jefferson’s Bourbon portfolio.

Castle Brands buys US4.2 million of Bourbon stocks to boost its Jefferson’s brand

The additional purchases brings the company’s total sum of ageing and new-fill Bourbon to US$9.6 million for the current fiscal year.

John Glover, executive vice president and chief operating officer of Castle Brands, said: “The continued investment in our ageing Bourbon inventory demonstrates our commitment to the Jefferson’s brand. Jefferson’s is one of the top five selling premium small-batch Bourbons and the only leading small-batch brand not owned by a major spirits company.

“Growing our barrel inventory through opportunistic purchases, combined with our two new-fill programs, allows us to accelerate the growth of our Jefferson’s portfolio.

“We continue to build on the success of Jefferson’s and Jefferson’s Reserve through innovation and the introduction of new expressions, including the expansion of our wine finishes program and the launch of the next voyages of our Jefferson’s Ocean Aged at Sea bourbon, including Cask Strength and a ‘Wheated’ Ocean.”

The company purchased an additional 770 barrels of aged Bourbon in the second quarter of fiscal 2018 to support the continued growth of Jefferson’s.

In October last year, Castle Brands increased its stake in Copperhead Distillery Company – owner of Bourbon producer Kentucky Artisan Distillery – to 25%.

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