Kentucky-based Old Carter Whiskey Co has changed hands, with the company and its namesake American whiskey brand having been acquired by one of its co-founders.
Old Carter, which is located in Louisville’s Whiskey Row neighbourhood, was bought earlier this month for around US$20.5m. The new owner is an “investor group” led by Mark Carter, who co-founded the business with partner Sherri Carter.
The pair, who “resurrected the long-dormant” Kentucky Owl bourbon brand in 2011, are in the process of separating, Global Drinks Intel understands.
Included in the transaction are not only the Old Carter brand but also its distillery and blending facility along with “packaged inventory of approximately 4,900 bottles (and) 1,300 barrels of aging whiskey ranging from four to 25 years old”, according to the sale’s auction organiser, Tranzon Asset Advisors.
“The Old Carter sale generated unprecedented demand, highlighting the strong market for premium assets in the spirits industry,” said Tranzon’s regional president, Ed Durnil. “Our national reach … attracted interest from a wide range of prospective global buyers, allowing us to close the sale in only three months.”
According to its latest annual economic briefing on the state of spirits, released last month, trade association the Distilled Spirits Council of the US said that domestic sales of American whiskey slipped by 2% in value terms last year on a volumes decline of 3%.
