Pernod Ricard USA announes $196 Million Distillery in Marion County
Pernod Ricard USA LLC, which produces leading brands such as Jefferson’s, Jameson Irish Whiskey, Absolut Vodka, Glenlivet and Chivas Brothers, announced in December it will establish a new distillery in Marion County, Kentucky, creating 55 full-time jobs with a $196 million investment. The project has potential to grow to a $250 million investment across 10 years.
Pernod Ricard will construct a new 75,000-square-foot facility on a 265-acre site in Lebanon. The site will include a distillery, drying operation, three warehouses and a world-class visitor center. Work on the facility is expected to begin in January 2023 and be completed by July 2024. The Marion County facility will be fully carbon neutral and will have zero fossil fuel consumption to produce bourbon.
Pernod Ricard will be a 7.5 million proof-gallon distillery, producing 115,000 barrels annually. The company’s purpose for the project is threefold: to build the most sustainable distillery in North America, which supports Pernod Ricard’s fundamental focus on sustainability, support their rapidly growing Jefferson’s brand, and support their existing American whiskey operations in West Virginia, Texas and Kentucky.
Pernod Ricard was founded in 1975 from the merger of two French anise-based spirits companies: Pernod, created in 1805, and Ricard, created in 1932.
Playboy Spirits Joint Venture Closes More Than $13 Million in Funding
Playboy Spirits, a joint venture formed by PLBY Group, Inc. and XL Ventures II, an affiliate of Spirits Investment Partners, announced the initial closing of more than $13 million in funding from a private placement of senior secured convertible notes by the joint venture’s wholly-owned operating subsidiary, and may receive additional funds in a subsequent closing.
Playboy Spirits is owned 40% by a wholly owned subsidiary of PLBY Group and 60% by XLV. Conversion of the Notes could result in the dilution of Playboy Spirits’ ownership of the Operating Subsidiary by up to 50% but would not reduce Playboy Spirits’ managerial control of the business.
The capital raised will fund the operations of Playboy Spirits and the Operating Subsidiary’s business, including the continued acquisition of rare, aged spirits to be released under the Rare Hare brand with Playboy co-branding. Playboy Spirits holds a trademark license to use Playboy branding and artwork with royalties payable to Playboy from the sales of all Playboy Spirits products. Playboy Spirits’ and the Operating Subsidiary’s operations are primarily run by SIP pursuant to a professional services agreement.
In 2023, Playboy Spirits expects to release limited-edition spirits in the U.S. and Asia, and plans to enter the ready-to-drink canned beverage category.
Partake Brewing adds Hazy IPA Varietal
Partake Brewing, a category leader in the non-alcoholic beer space, announced the incorporation of their Hazy IPA Varietal into the company’s wider portfolio as a result of consumer demand.
The Partake team was determined to develop a great-tasting, low calorie, non-alcoholic IPA in response to general customer interest in the varietal in addition to category trends which led to the original launch of Partake’s Hazy IPA that debuted in March of 2022 as a small batch offering on their online store.
The latest varietal is now available to purchase via the Partake website in addition to select retailers across the country including Target, Binny’s Beverage Depot, BevMo, Wegmans (in select locations) and as a standalone pack in Total Wine & More.