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Pronghorn names Ron Cole president
By Nicola CarruthersDiageo-backed US incubator Pronghorn has appointed Ron Cole as its president to accelerate the company’s growth.

Cole joins Pronghorn after holding leadership roles at consumer goods companies Nestlé Purina, Kerry Foods, and Reckitt.
Pronghorn was launched in 2021 as a 10-year initiative that seeks to drive diversity, equity and inclusion in the spirits industry.
The company has pledged to invest in 57 Black-owned spirits brands and create US$2.4 billion in economic value by 2032.
Working from Pronghorn’s headquarters in Atlanta, US, Cole will be responsible for driving the next phase of the company’s growth.
“I believe diversity is a growth engine for organisations,” said Cole. “It allows you to connect deeper with consumers and enables innovative thinking.
“Joining Pronghorn is especially exciting for me because it provides the opportunity to invest and close the knowledge, access to equity and ownership gap within an underrepresented community in the spirits industry.“
Pronghorn was founded by Dia Simms, Erin J Hall, and Dan Sanborn as a hybrid accelerator and ‘industry-wide change agent’ that aims to provide new opportunities for Black founders, entrepreneurs, and executives in the spirits industry.
Simms added: “Ron is coming onboard at the perfect time to accelerate that growth and ensure our impact is long lasting. Equity is driven by economics.
“Under Ron’s leadership, Pronghorn will continue to drive the spirit of principled capitalism forward.”
According to Pronghorn’s 2024 Impact Report, the company has made 28 brand investments to date. Last year, the firm invested in Mocktail Club, a Black woman-owned, non-alcoholic drinks brand, and Japanese whisky maker Shinju Spirits.
Furthermore, Pronghorn said its work has resulted in a 10% surge in Black-American representation at the supplier tier since 2021.
Diageo is the anchor-investment provider for Pronghorn, but its founders have made it clear that Pronghorn is a standalone company.
They also hope to move beyond spirits and help other industries use its blueprint to improve diversity in other sectors.
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