Investor group eyes Uncle Nearest purchase
NexGen 2780, a Georgia-registered investor group, has expressed interest in acquiring Uncle Nearest’s assets and settling the distiller’s US$108 million debt to Farm Credit Mid-America.
In a letter of intent sent to the US district judge Charles E Atchley Jr on 8 January 2026, NexGen 2780’s general partner, Walter Miles, stated the group’s interest in acquiring all of Uncle Nearest’s assets.
The filing indicates that the company plans to pay off Uncle Nearest’s debt to Farm Credit Mid-America, as well as provide working capital, cover court and receivership costs, and present a fair exit plan for current equity holders.
However, any agreement must still be approved by the court and its appointed receiver.
According to Miles, the proposal was first shared with Farm Credit Mid-America, Uncle Nearest, and the receiver in October 2025.
In the letter, Miles also expressed concerns about the duration of the receivership, which a federal judge in the US District Court for the Eastern District of Tennessee ordered on 15 August 2025.
The letter notes that extended proceedings could negatively impact the company’s value by harming its brand, relationships with vendors and distributors, employee retention, and market position.
It suggested that a swift and organised sale under court supervision could help preserve value and enhance recovery for creditors and stakeholders.
The letter of intent proposes that current equity holders have options, including redemption, a buyout using sale proceeds, or retaining some interests, subject to court approval. The process aims to be completed within 90 days.
Uncle Nearest and its assets remain under federal receivership, with legal proceedings ongoing.
Uncle Nearest’s court filings have included the founders’ Fawn and Keith Weaver’s request to file an emergency relief order to prevent the receiver from sharing “competitively sensitive” information with interested buyers.
In the latest development, a federal magistrate judge, Christopher H Steger, has set a hearing for tomorrow (20 January) to review several requests to keep court documents private.
The reconsideration motion disputes the court’s previous decision as well as the order to appoint a receiver for Uncle Nearest, Nearest Green Distillery, Uncle Nearest Real Estate Holdings, and the individual defendants, Fawn and Keith Weaver.
Additionally, the defendants have requested that access to certain proprietary information be restricted pending the court’s review of their request.
Earlier this month, the Weavers filed a civil lawsuit against the company’s former chief financial officer, Michael Senzaki.
Who is NexGen 2780?
NexGen 2780 LP was registered on 11 June 2025 in the state of Georgia as a domestic limited partnership, with five general partners: Chuck Speed, Eddie Morre, Kris Jester, Mark Jones, and Miles.
According to the amended certificate, effective as of 28 October, the company’s remaining general partners were listed as Jones and Miles.
A domestic limited partnership is a business formed under state law with at least one general partner and at least one limited partner.
The general partner manages the business and is personally liable for its debts, while the limited partner invests money and is only liable up to their investment.
‘Domestic’ indicates the partnership operates in the state where it was formed, allowing limited partners to invest without risking personal assets, as long as they remain uninvolved in management.
According to the letter of intent filed on 8 January 2026, NexGen2780 was established to manage the court-supervised debt resolution process and potential acquisitions. Miles explained that the group comprises both individuals and institutions, with the institutions boasting a proven track record of successful deals across various industries.
Related news
Rebel Bourbon revives Root Beer Whiskey
