Westward Whiskey restructures after asset sale
American single malt whiskey brand Westward has been saved from bankruptcy by a group of private investors, enabling the business to restructure.
In April, House Spirits Distillery (trading as Westward Whiskey) filed for Chapter 11 bankruptcy to restructure the business after facing ‘significant liquidity challenges’.
On 1 October, the US Bankruptcy Court for the District of Delaware approved the sale of most of Westward’s assets to a group of private investors, called Aqua Ardens. The company also financed Westward during the bankruptcy process.
The sale of the undisclosed assets is expected to close by 3 November when Westward will transition to a 100% independent ownership structure.
Thomas Mooney, CEO and founder of Oregon’s Westward Whiskey, will remain at the helm of the business.
Mooney filed for bankruptcy protection as a ‘necessary step to address a liquidity shortfall and route-to-market challenges’.
The move came a month after the shutdown of Diageo’s Distill Ventures investment arm, which had provided funding to Westward since 2018.
Mooney, who founded Westward in 2004, said: “Today, we celebrate a new beginning at Westward Whiskey, a bright new future that will allow us to compete and win despite an industry slowdown and broader economic headwinds.
“Our new, independent ownership structure gives us the freedom and flexibility to lean into the parts of our business that continue to shine – including our Westward Whiskey Club, direct-to-consumer business, and select wholesale markets where we have partnered with Pacific Edge Wine & Spirits.”
The American single malt brand has seen ‘solid growth’ in the year to date. For the nine months to 30 September 2025, Westward’s sales have soared by 53% year on year, surpassing the company’s total revenue for 2024.
Luis Fernando Leal, a principal of Aqua Ardens, added: “Along with my partners, I am thrilled to play a role in the future of Westward Whiskey. We were among the original investors in the brand, and I have served on its board of directors since 2011.
“Thomas and the Westward team have the right vision, strategy, and ability to propel Westward Whiskey to sustainable growth in the coming years. This is a difficult moment in the spirits industry, but a tremendous opportunity for Westward Whiskey.”
Portland-based Westward is known for being a pioneer in American single malt whiskey, which became a formal category in December 2024.
It claims to be the leading independent American single malt brand, behind only Proximo Spirits’ Stranahan’s, Diageo-owned Bulleit and Suntory’s Clermont Steep.
Westward was one of a number of whisky brands to gain investment from Distill Ventures, including Danish distiller Stauning, Australian producer Starward, Japanese whisky maker Kanosuke, and English brand Fielden.
House Spirits Distillery also developed American gin Aviation, which it sold to Davos Brands in 2016. The brand has since been acquired by Diageo and is backed by actor Ryan Reynolds.
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