Pronghorn backs New England Barrel Co
Diageo-backed incubator Pronghorn has invested in American whiskey producer New England Barrel Company.
The US whiskey maker becomes the latest Black-owned spirits producer to join Pronghorn’s portfolio, which includes 20 brands.
Based in New Hampshire, New England Barrel Company produces two core Bourbons and several limited edition single barrel whiskeys. The expressions are bottled from whiskeys sourced from US-based distilleries.
“New England Barrel Company, at its foundation, is about building community through a shared interest in great whiskey,” said founder James Saunders. “Our mission each day is to craft and distribute outstanding batched and single barrel releases that are affordable and offer them to the public at reasonable prices.”
Pronghorn plans to make 57 investments in Black-owned spirits brands over the next decade, and generate US$2.4 billion in economic value for the Black community.
Pronghorn said its work had led to more than 50 new Black employees in the spirits industry.
“It’s extraordinary to see the ways in which the Pronghorn family continues to grow,” said Pronghorn CEO and managing director Jomaree Pinkard. “We are thrilled to be working with New England Barrel Company to further accelerate their business.”
Pronghorn recently invested in a trio of spirits companies led by Black women, including New England Sweetwater Farm & Distillery.