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Whiskey House of Kentucky secures $145m in funding
The long-term capital will be used to support Whiskey House’s dedicated commercial contract distilling operations.
A few weeks after successfully hitting its 1 July target production date, Whiskey House of Kentucky has secured a US$145 million loan to fund further growth expenditure and working capital needs.
“We could not be more excited by the successful completion of our recent capital raise,” said co-founder and CEO David Mandell. “The magnitude of the deal and the support of some of the leading banks in the region not only demonstrate the strength of our business, the stability of our customers and contracts, and the confidence of our financial partners, but also provides us with immense flexibility to respond to our customers’ needs.”
The credit comes from Truist Bank, US Bank, First Horizon Bank, Rabobank, and CoBank (Lenders), and will be used in part to expand production capacity, add incremental services, and pursue complementary acquisitions.
The founders of Kentucky’s Bardstown Bourbon Company first announced Whiskey House in October 2023 with a pledge of US$350m over the next 10 years to build a distillery. The 176-acre campus is located in Elizabethtown, Kentucky, and will be entirely dedicated to contract distillation.
“Whiskey House of Kentucky is at the forefront of innovation when it comes to production and technology, and the company is poised to change the industry for brands of all sizes,” said Truist beverage industry manager Joe Goode.
“We saw the vision of the management team and Whiskey House of Kentucky early on, and this transaction leverages our regional banking and corporate finance teams alongside deep industry connectivity to create a unique financing structure that will propel this great company into the next phase of its growth.”
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