Professional athletes invest in Ole Smoky Distillery
Patricof, a private investment platform for elite professional athletes, has made a ‘strategic’ investment in moonshine maker Ole Smoky Distillery.
Patricof follows in the footsteps of Apax Partners, which bought a controlling stake in the Tennessee-based distiller in March this year.
Robert Hall, CEO of Ole Smoky Distillery, said: “Ole Smoky is a true pioneer in the spirits industry and the business continues to thrive, with year-to-date sales pacing to significantly beat our 2021 record of over one million nine-litre cases.
“With Patricof’s consumer expertise and celebrity athlete power, we believe we can accelerate our impressive trajectory as we enter the next chapter of our business.”
Patricof said several dozen of its ‘world-renowned’ athlete clients, spanning all major US sports, invested in the moonshine and whiskey producer.
Investors include: Trea Turner, World Series champion shortstop; Randall Cobb, NFL pro-bowler for the Green Bay Packers; Kemba Walker, four-time NBA All-Star; Anders Lee, captain of the New York islanders; Harrison Bader, Gold Glove outfielder for the New York Yankees; Sam Hubbard, captain of the Cincinnati Bengals; Will Compton, NFL linebacker and leading podcast host; and Matthew Berry, Fantasy Football Analyst at NBC Sports, to name a few.
Ole Smoky was established in 2010 in Gatlinburg, Tennessee, in the US, and creates moonshine and whiskey. Its products are available across the US and in 20 countries.
In 2021, the distillery welcomed more than 5.7 million visitors.
Investor Cobb said: “As a Tennessee native, I know how much Ole Smoky means to the community, from their four local distilleries to their charitable work protecting the Great Smoky Mountains National Park.
“I’m excited to become part of the Ole Smoky family and I’m looking forward to supporting this home-grown business as it furthers the great Tennessee distilling legacy.”