The US-based business, which has been set up to support the diversification of brand ownership in the spirits industry, has spent an unspecified sum on an unspecified-sized stake in the brand. Alongside the spend, Pronghorn will offer “business development services” to Shinju’s owner Rogue Baron, which launched the whisky in 2019.
“We are confident that our collaboration will propel the brand to even greater heights,” said Pronghorn’s VP for portfolio management, Connor McKenna. “This investment aligns with our commitment to supporting and promoting diversity in the spirits industry, and we look forward to working closely with the team at Shinju Spirits to unlock new opportunities and drive sustainable growth.”
Shinju joins the likes of Greenwood Whiskey, Red Hazel Whiskey, TCapri Tequila and IslandJon Vodka, all of which teamed with Pronghorn just over a year ago.
Diageo’s North America division has partnered with the company since May 2021. “The Black community represents 12% of consumers across the US beverage alcohol category, but is nonetheless inequitably represented within the industry from employment and ownership perspectives,” the unit said at the time.
