Whiskey House of Kentucky secures credit upgrade
Elizabethtown-based custom distillery Whiskey House of Kentucky has announced an amendment to its credit agreement to support continued growth.
The amendment to the existing credit agreement involves a syndicate of banks, with Truist Bank acting as the administrative agent. The participating banks include US Bank, First Horizon Bank, Rabobank, and CoBank.
Whiskey House began operation in its facility in Elizabethtown on 1 July 2024, backed by a US$115 million syndicate credit on 19 July.
The announcement comes on the heels of news that the Whiskey House of Kentucky has formed a long-term partnership with the Koetter Group to construct 12 state-of-the-art rickhouses over the next six years, expanding the distillery’s barrel storage capacity.
According to the distillery, completing the amendment will provide Whiskey House additional capital and increase its flexibility in accessing new funding sources to support its growth.
The extra capital will be used to enhance the company’s services for customers, including storage and ageing services, and to improve flexibility in meeting customer needs.
All other key terms of the existing credit agreement, such as pricing and amortisation, remain unchanged.
David Mandell, co-founder and CEO of Whiskey House of Kentucky, said: “As the industry works to recover from the challenges brought on by the pandemic, Whiskey House continues to add customers to its growing list, which includes some of the best brands in the spirits industry.
“We appreciate the continued partnership from our bank group in supporting the business’s growth trajectory as we look to position ourselves as the leader in custom whiskey production.”
Since its opening last year, the distillery has produced more than 97,000 barrels of whiskey, utilising 56 unique mash bills and 59 distinct recipes for its exclusive custom whiskey production customers.
The 110,000-square-foot facility features a ‘highly advanced’ manufacturing system that is fully automated and operates around the clock, seven days a week, using proprietary software.
Last month, Buzick Construction filed a US$1.65 million legal claim against Whiskey House of Kentucky for fees owed for the construction of its new distillery.
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