Distilled Beverages Manufacturing 

Do You Want To Sell Your Distilled Beverages Company?

Morgan & Westfield is a leading business broker in the food and beverage industry. Our focus is companies producing between $1 million and $10 million in earnings before interest, taxes, depreciation, and amortization (EBITDA) and those with annual revenues between $5 million and $100 million. And one of our specializations is the distilled beverages manufacturing niche. We can help sell your business for the highest market price.

M&A Advisors To Distilled Beverages Business Owners

We operate differently from most mergers and acquisitions business brokers: We do not charge commissions, and there are no hidden fees. Our process starts with a free consultation. We discuss fees with you ahead of time. You can choose from our services, which means you are only charged for what you need. Our goal is to sell your company for the highest market price, and we believe the only way to do this is to earn your trust. This starts with how we do business.

A Business Valuation is a Good Place to Start 

A professional business valuation is a crucial step for business owners considering the sale of their companies. It reveals the market value of your business, of course. But it’s also a chance to look at changes you can make to increase your business’s value in the eyes of potential buyers. Often, there are simple, cost-effective measures you can take – making sure your financials are in good order, for example – that can strengthen the case for your asking price. That’s where our insider knowledge and experience of selling businesses comes in.

Types of Businesses We Sell and Value 

• Botanical-Infused Spirits Manufacturers
• Distillery Beverage Syrup Manufacturers
• Distillery Bitters Manufacturers
• Distillery Botanical and Spices Manufacturers
• Distillery Grain Manufacturers 
• Distillery Grape Suppliers 
• Distillery Ingredient Manufacturers
• Distillery Maltsters 
• Distillery Oak Barrel Manufacturers 
• Distillery Specialty Ingredient Manufacturers
• Distillery Spice Manufacturers
• Distillery Sugar Manufacturers
• Distillery Sweetener Manufacturers
• Distillery Tea and Coffee Suppliers/Manufacturers
• Distillery Water Suppliers

Overview of the Distilled Beverages Industry

Distilleries are an important part of the alcohol industry, producing spirits like gin, rum, vodka, and whiskey. Craft distilleries have grown in popularity and tend to focus on using local ingredients and traditional techniques to create standout products. The distillery industry is experiencing trends toward premium, flavored, and sustainably produced spirits. Despite challenges such as competition and regulatory hurdles, the industry continues to evolve with innovative product development and marketing strategies, while also contributing to tourism through distillery tours and tastings.

How We Got Here – A Brief History

• 1200 B.C. – Early Evidence of Distillation Discovered: Early evidence of distillation was found on Akkadian clay tablets dated c. 1200 B.C., describing perfumery operations in Mesopotamia.
• 9th Century – Distillation Process Refined: Islamic scholars like Al-Razi refined the distillation process.
• 12th Century – Distillation Knowledge Spread: Knowledge of distillation spread to Europe through the Moors – Arab, Spanish, and Amazigh-origin people – in Spain and through translations of Arabic texts.
• 1500 – First Distillation Book Published: German alchemist Hieronymus Brunschwig published Liber de arte distillandi de simplicibus, or The Book of the Art of Distillation out of Simple Ingredients, the first book dedicated to the topic of distillation.
• 1608 – Oldest Whiskey Distillery Licensed: Old Bushmills Distillery in Northern Ireland was granted its license, which supports claims that it is the world’s oldest licensed whiskey distillery.
• 1707 – Scotch Whisky Industry Expended: The Acts of Union merge Scotland and England, eventually leading to the Scotch whisky industry’s expansion.
• 1789-1794 – The Whiskey Rebellion Occurred: The Whiskey Rebellion occurred in the United States after a federal excise tax was imposed on distilled spirits.
• 1802 – The Golden Age of New York Distillation Began: The “Golden Age” of New York distillation began in 1802, the year the whiskey tax was abolished. Brooklyn became a popular location for whiskey makers to serve alcohol across the city as the number of farm distilleries started increasing across the state.
• 1920-1933 – Prohibition Era Occurred: The Prohibition era, 1920 to 1933, was devastating for the American distilling industry. The 18th Amendment banned alcohol production, distribution, and transportation.
• 1960s – Single Malt Scotch Whisky Rose: Single malt Scotch whisky gained popularity worldwide.
• 1970s – Bourbon Industry Declined: The U.S. bourbon industry faced decline as vodka and other spirits became popular.
• 2007 – Craft Distilling Took Off: Craft distilling began to take off in the United States, marked by an increase in micro-distilleries.
• 2009 – Gin Renaissance Began: The gin renaissance began, especially in the United Kingdom, with a boom in craft gin distilleries.
• 2011 – First Licensed Distillery Established: Albany Distilling Co., the first licensed distillery in New York since Prohibition was established in 2011. Albany has produced a wide range of rums, aged and unaged whiskeys, and vodkas since introducing its first product, a bourbon-mash whiskey.
• 2012 – First Premium Rum Distillery Established: The Noble Experiment was New York’s first premium rum distillery since Prohibition and the home of Owney’s Rum. The business was formally established in 2012 after the owner, Bridget Firtle, saw a chance to reintroduce rum to the United States, particularly to her hometown of New York City. The firm was a success because of her knowledge of the history of the distilling movement and the spirits industry.
• 2016 – Online and Direct-to-Consumer Sales Grew: Growth in online liquor sales and direct-to-consumer shipments increased in the United States.
• 2020 – Distilleries Affected: The COVID-19 pandemic affected the hospitality industry, but retail alcohol sales and online sales/delivery surged. Some distilleries switched to producing hand sanitizers in response to the pandemic.
• 2021 – RTD Cocktails Trended: The rise of ready-to-drink (RTD) cocktails became a major trend in the beverage industry.

Trends That May Affect M&A Activity

The following is a list of trends that can affect future M&A activity in the distillery industry:

• Craft Distilleries: Just as the beer industry has seen a rise in craft breweries, the distillery world has seen an explosion of craft distilleries. These small-scale producers focus on quality and craftsmanship, and often incorporate local ingredients, offering unique flavor profiles that set them apart from mass-produced spirits.
• Sustainability: Environmental awareness has permeated the distillery industry. From organic ingredients to waste reduction and energy efficiency, many distilleries are looking to reduce their carbon footprint. Some even repurpose waste products, like turning spent grains into animal feed or compost.
• Global Influences: While Scotch, bourbon, and other traditional spirits remain popular, there’s a growing interest in spirits from various parts of the world. Japanese whisky, for example, has surged in popularity, as have spirits like mezcal from Mexico and various rums from regions like the Caribbean.
• Revival of Forgotten Spirits: There’s been renewed interest in older, sometimes nearly forgotten spirits. Examples include absinthe, which saw a revival after being banned in many countries for decades, and amaro, an Italian herbal liqueur.
• Premiumization: Consumers are increasingly willing to pay more for premium and super-premium spirits. This trend is evident across various spirit categories, from vodka to whiskey.
• Flavored Spirits: While flavored vodka has been around for a while, the trend of infusing spirits with unique flavors has expanded to other categories, including whiskey, rum, and gin. This trend appeals to consumers looking for new taste experiences.
• Transparency: Modern consumers want to know more about what they’re consuming. As a result, many distilleries offer more transparency in terms of ingredients, production methods, and aging processes.
• Experiential Marketing: Distilleries are creating experiences around their brands. This includes distillery tours, tasting rooms, and interactive events. It’s no longer just about the drink; it’s about the experience surrounding it.
• Low-Alcohol and Non-Alcoholic Spirits: Recognizing the movement toward moderate alcohol consumption, several brands are introducing low-alcohol or even non-alcoholic versions of spirits. These products aim to provide the same complex flavors without the alcohol content.
• Cask Finishing: Particularly in the world of whisky, there’s been a trend of “finishing” or “double aging” spirits in different types of barrels (like port, sherry, or wine casks) to add layers of flavor.
• Digital Expansion: The rise of e-commerce and online sales, especially spurred by the COVID-19 pandemic, has made it easier for consumers to access a wider range of spirits from around the world.
• Cocktail Culture: The resurgence of cocktail culture, with a focus on artisanal ingredients, unique recipes, and the role of the bartender as a mixologist, has spurred interest in a variety of spirits and liqueurs.

Summary of Distillery Industry Acquisitions

Summary of Acquisitions
Target			Buyer			Transaction
Target Industry(Industry > Niche)	Target	Target Location	Buyer Industry	Buyer	Buyer Location	Date	Purchase Price
Alcoholic Beverage > Distilled Spirits, Craft Liquors	Double Diamond Distillery	USA	Pharmaceuticals, Packaged Goods	Tilray Inc.	USA	Dec 2021	$120 Million
Craft Distillery > Distilled Spirits	Holy Water Distillery	USA	Alcoholic Beverage, Rum	KLYR Rum	USA	May 2022	Undisclosed
Distillery > American Dry Gin	Ryan Reynolds-Backed Aviation Gin	USA	Diageo Alcoholic Beverages	Diageo	UK	Aug 2020	£466m ($610 Million)
Distillery > Bourbon, Rye Whisky	Rabbit Hole Distillery	USA	Wine and Spirits	Pernod Ricard	France	Jun 2019	Undisclosed
Distillery > Distilled Spirits, Craft Whisky	High West Distillery	USA	Alcoholic Beverages	Constellation Brands	USA	Oct 2016	$160 Million
Distillery > Single Malt Scotch Whiskies	The BenRiach Distillery	Scotland	Wine and Spirits	Brown-Forman	USA	Jun 2016	£281 Million
Non-Alcoholic Beverage > Distilled Non-Alcoholic Spirits	Seedlip	UK	Alcoholic Beverage	Diageo	UK	Aug 2019	Undisclosed
Spirits > Distilled Spirits, Super Premium Spirits, Tequila	Patron Spirits	Switzerland	Spirits	Bacardi Ltd	UK	Apr 2018	Undisclosed
Spirits > Tequila, Mezcal	Sombra Mezcal	Mexico	Craft Spirits	Davos Brand	USA	Mar 2017	Undisclosed

Tilray Inc. Acquired Double Diamond Distillery LLC (Alcoholic Beverage) 

• Date: December 2021
• Price: $120 Million
• Target: Double Diamond Distillery LLC – A beverage manufacturing facility that crafts blended and distilled liquors.
• Location: Colorado, USA
• Buyer: Tilray Inc. – A U.S. cannabis-lifestyle, pharmaceutical, and packaged goods company based in New York City. Tilray also operates in Canada, Latin America, Australia, and New Zealand, with expanding facilities in Portugal and Germany.
• Purpose: The acquisition expands Tilray’s U.S. offerings into the on-trend spirits category.
• Details: Tilray Inc. acquired Double Diamond Distillery from Sababa Partners I and others in December 2021.

KLYR Rum LLC Acquired Holy Water Distillery LLC (Craft Distillery)

• Date: May 2022
• Price: Undisclosed
• Target: Holy Water Distillery – A craft distillery producing a line of spirits called Crostwater. The company opened in 2018, and its spirit brand, Crostwater Distilled Spirits, soon began winning awards for various offerings, such as gin, vodka, spiced rum, whiskey, bourbon, and flavored whiskey.
• Location: Pennsylvania, USA
• Buyer: KLYR Rum – A U.S.-made silver rum that is distilled 12 times and filtered 18 times. It has zero grams of sugar and carbohydrates. KLYR Rum is available in Pennsylvania, New Jersey, New York, Florida, Las Vegas, and Trindad.
• Purpose: “This is an exciting time for KLYR Rum, and we continue our upward momentum day after day, making the acquisition of Holy Water Distillery the next step in our expansion,” said Amish Patel, CEO of KLYR Rum.

Diageo Acquired Ryan Reynolds-Backed Aviation Gin (Distillery)

• Date: August 2020
• Price: £466 Million ($610 Million)
• Target: Aviation Gin – A brand of gin first produced in Portland, Oregon, by founders Christian Krogstad and Ryan Magarian, and backed by Canadian-American actor Ryan Reynolds. It is referred to by some as an “American dry gin” and is produced by House Spirits Distillery. Aviation Gin opened its first-ever distillery in Portland, Oregon, which is also Reynolds’ hometown.
• Location: Oregon, USA
• Buyer: Diageo plc – A multinational alcoholic beverage company headquartered in London, England.
• Purpose: This deal happened when gin consumption was rising in the United States. According to the Distilled Spirits Council, American distillers sold almost 10 million nine-liter cases of gin in 2019, producing $918 million in revenue, a 3% increase from 2018.
• Details: Ryan Reynolds, star of the Deadpool films, bought a stake in Aviation Gin in February 2018 and will retain an interest in the business.

Pernod Ricard Acquired Rabbit Hole Distillery (Distillery)

• Date: June 2019
• Price: Undisclosed
• Target: Rabbit Hole Distillery – A super-premium brand of bourbon whiskies.
• Location: Kentucky, USA
• Buyer: Pernod Ricard – A French company best known for its anise-flavored pastis apéritifs Pernod Anise and Ricard Pastis. The world’s second-largest wine and spirits seller, it also produces several other types of pastis.
• Purpose: Pernod Ricard has been working to build more of a presence in the United States, the company said, and Rabbit Hole is one of its additions. “Rabbit Hole is a fast-growing brand, strongly rooted in its terroir and very well positioned in the high-end Bourbon and Kentucky whiskey categories,” Pernod Ricard CEO Alexandre Ricard said. “We are excited to take the brand to the next stage of its very promising development.”
• Details: Pernod Ricard, based in Paris, announced that it had signed an agreement with Rabbit Hole and that the Kentucky distillery would be a natural fit in its portfolio, which includes other well-known brands, such as Jameson Irish Whiskey and Kahlúa liqueur.

Constellation Brands Acquired High West Distillery (Distillery)

• Date: October 2016
• Price: $160 Million
• Target: High West Distillery – A distilled spirits manufacturer in Park City, Utah, and the first legally licensed distillery in Utah after Prohibition ended.
• Location: Utah, USA
• Buyer: Constellation Brands – A U.S. marketer and producer of wine, beer, and spirits. Constellation is the largest beer importer in the United States, measured by sales, with the third-largest market share of all major beer suppliers.
• Purpose: The acquisition of High West Distillery – Utah’s first distillery since 1870 – bolsters Constellation’s strategy to increase its premium focus in the United States while enabling the firm to enter the fast-growing bourbon and rye categories.
• Details: The acquisition included High West’s operations and portfolio of award-winning, distinctive, and high-end American straight whiskeys.

Brown-Forman Acquired The BenRiach Distillery (Distillery)

• Date: June 2016
• Price: £281 Million
• Target: The BenRiach Distillery Company – A single malt Scotch whisky distillery in the Speyside area of Scotland.
• Location: Edinburgh, Scotland
• Buyer: Brown-Forman Corporation – The Brown–Forman is an U.S.-based company, one of the largest in the spirits and wine business.
• Purpose: “With this acquisition, Brown-Forman re-enters one of the spirits industry’s most exciting and consistent growth segments, Single Malt Scotch Whisky,” said Brown-Forman chief executive officer Paul Varga. “The GlenDronach, BenRiach, and Glenglassaugh single malt brands are among the finest Single Malts in the world and we look forward to continue building them around the globe.”
• Details: Brown-Forman Corporation (NYSE: BFA) (NYSE: BFB) announced that it had completed its acquisition of The BenRiach Distillery Company Limited for £281 million. The deal, which brings three single malt Scotch whisky brands – The GlenDronach, BenRiach, and Glenglassaugh – into Brown-Forman’s growing whiskey portfolio, includes brand trademarks, three malt distilleries, a bottling plant, and the company’s headquarters in Edinburgh, Scotland.

Diageo Acquired Seedlip (Non-Alcoholic Beverage)

• Date: August 2019
• Price: Undisclosed
• Target: Seedlip – A British company that makes plant-based liquor substitutes for use in non-alcoholic mixed drinks. Seedlip describes its products as “the world’s first distilled non-alcoholic spirits.”
• Location: London, United Kingdom
• Buyer: Diageo plc – A multinational alcoholic beverage company headquartered in London, England.
• Purpose: John Kennedy, president of Europe, Turkey and India at Diageo, said: “Seedlip is a game-changing brand in one of the most exciting categories in our industry. Ben [Branson, founder of Seedlip] is an outstanding entrepreneur and has created a brand that has truly raised the bar for the category. We’re thrilled to continue working with him to grow what we believe will be a global drinks giant of the future.”
• Details: Diageo announced the acquisition of a majority shareholding in Seedlip, the world’s first distilled non-alcoholic spirits brand, in August 2019. Seedlip was launched by Ben Branson in 2015 to solve the dilemma of “what to drink when you’re not drinking.” Ben set out to change the way the world drinks and to continue his family’s 320-year-old farming legacy. Ben will remain involved as a shareholder and director and will work with the Seedlip team and Diageo to continue to support Seedlip’s future success.

Bacardi Ltd Acquired Patron Spirits (Spirits)

• Date: April 2018
• Price: Undisclosed
• Target: Patrón Spirits International AG – A manufacturer of ultra-premium distilled spirits.
• Location: Schaffhausen, Switzerland
• Buyer: Bacardi Limited – The largest privately held, family-owned spirits company in the world. Originally known for its Bacardi brand of white rum, it now has a portfolio of more than 200 brands and labels.
• Purpose: “We are delighted to welcome the team from Patrón into the Bacardi family,” said Mahesh Madhavan, CEO of Bacardi Limited. “We continue to be inspired by their passion, culture of caring, attention to detail, and unwavering commitment to quality. Our promise is to uphold these qualities to ensure the product integrity, innovative marketing, and commercial success of PATRÓN tequila for years to come.”
• Details: The transaction, announced in January 2018, closed in April 2018 and follows a successful relationship between the two companies since Bacardi’s initial acquisition of a 30% minority stake in Patrón Spirits in 2008. According to the most recent International Wines & Spirits Record data, the acquisition makes Bacardi the number one spirits company in the super-premium segment in the United States and the second largest in market share by value in the United States. Tequila remains one of the fastest-growing categories in the spirits industry, with PATRÓN the market leader in the super-premium segment.

Davos Brand Acquired Sombra Mezcal (Spirits)

• Date: March 2017
• Price: Undisclosed
• Target: Sombra Mezcal – A brand of artisanal mezcal, a spirit handcrafted in the traditions of Oaxaca, Mexico. Mezcal is an alcoholic drink made from agave syrup, the sap of the agave plant.
• Location: Oaxaca, Mexico
• Buyer: Davos Brand – An award-winning portfolio of craft spirits and Japanese sake.
• Purpose: “I’m super excited to go ‘all-in’ with Davos Brands – the team shares my vision and passion for craft spirits of the highest quality. I have no doubt that with Davos’ continued leadership, these brands will achieve their true potential,” said Richard Betts, the founder of Sombra Mezcal and Astral Tequila.
• Details: The transaction encompasses the worldwide intellectual property rights to the brand and the state-of-the-art Sombra Mezcal Palenque, a Mezcal distillery in Oaxaca, Mexico.

Public Companies 

The following is a list of public companies that operate in the specialty food industry:

Private Equity Firms

The following is a list of private equity firms investing in the specialty food industry:

• Exponent Private Equity: Established in 2004, Exponent is a UK private equity firm investing in companies across Europe. It identifies potential, navigates complexity, and nurtures relationships to unlock growth for its portfolio companies and investors. Investments it has made in the industry include:

• Exponent Private Equity: Established in 2004, Exponent is a UK private equity firm investing in companies across Europe. It identifies potential, navigates complexity, and nurtures relationships to unlock growth for its portfolio companies and investors. Investments it has made in the industry include:

• L Catterton: L Catterton is a U.S.-headquartered, consumer-focused private equity firm. Since 1989, it has made more than 250 investments in brands across all segments of the consumer industry. Investments it has made in the industry include:

• Montage Partners: Based in Scottsdale, Arizona, Montage Partners is a people-first private equity firm helping established businesses reach transformative growth. Investments it has made in the industry include:

• TPG Capital: TPG Capital is a U.S. firm based in Fort Worth, Texas. It focuses on leveraged buyouts and growth capital, and it manages investment funds in growth capital, venture capital, public equity, and debt investments. Investments it has made in the industry include:

Venture Capital Firms

The following is a list of venture capital firms investing in the specialty food industry:

• Distill Ventures: Distill Ventures supports founders of early stage drinks companies and mature brands. It invests in drinks startups and rapidly scaling businesses, gives access to expertise and networking, and offers support to access the North American market. It works with spirits entrepreneurs who want to create the global drinks brands of the future. Investments it has made in the industry include:

• District Ventures Capital: District Ventures invests in innovative companies in the food and beverage and health and wellness sectors. The fund is led by entrepreneurs including managing partner, Arlene Dickinson. Investments it has made in the industry include:

• Distill Ventures: Distill Ventures supports founders of early stage drinks companies and mature brands. It invests in drinks startups and rapidly scaling businesses, gives access to expertise and networking, and offers support to access the North American market. It works with spirits entrepreneurs who want to create the global drinks brands of the future. Investments it has made in the industry include:

Professionals

The following is a list of professionals servicing or investing in the specialty food industry:

Consultants

• BoozeWerks: BoozeWerks is a craft alcohol consulting firm that advises distilleries on products, processes, and profitability. Its consultants and engineers work to find cost-efficient, sustainable solutions to help distilleries. The firm offers a complete service, from business planning and design layouts to equipment selection and sourcing to regulatory standards and safety procedures.
• Craft Distillery Development Consultants: Craft Distillery Development Consultants offers a bespoke business planning, design, and development service for prospective artisan and craft distillers, from first concept through to first spirit production.
• The Spirits Group: Consulting firm The Spirits Group focuses on whiskey-related business strategy and operations, quality control, and distillery engineering. From barrel modeling and forecasting to blending and process design, it offers services that ensure quality on both the production and the business side of the industry.
• Thoroughbred Spirits Group: Thoroughbred helps new and established spirits companies flourish. It works with entrepreneurs and leadership teams to build distilleries and brands from the ground up and to revamp established companies for growth or acquisition.

Law Firms/Attorneys 

• Barclay Damon LLP: Barclay Damon works with hotels, hospitality, and foodservice companies. It has a depth of knowledge on legal issues specific to the foodservice industry, including liquor-license laws and regulations. It also advises on acquisitions, naming, sponsorship rights, financing, brand protection, and related areas.
  Cosgrave Vergeer Kester LLP: Cosgrave, based in Portland, Oregon, works with breweries, distilleries, and wineries. It advises on contracts, insurance and liability, reputation protection, trademark filing, litigation, regulatory compliance, and disputes.
• Haynsworth Sinkler Boyd: Haynsworth Sinkler Boyd advises breweries and distilleries in South Carolina on entity formation and other corporate matters, including real estate, alcohol licensing and permitting, contract review, intellectual property, product liability, mergers and acquisitions, employment, economic development, and litigation.
• Moye White: Moye White supports breweries, distilleries, wineries, and associated businesses within the supply chain. The firm handles a range of issues, including licensing, corporate formation, fundraising, real estate, intellectual property, litigation, and more.
• Trademark Lawyer Firm: Trademark Lawyer provides trademark services for winery, brewery, and distillery owners – from international applications to litigation, ensuring diligent pre-submission checks to minimize application issues.

Distillery Industry Associations

The following is a list of associations for the distillery industry:

• American Craft Spirits Association: American Craft Spirits Association is a non-profit trade group that represents the U.S. craft spirits industry. It focuses on elevating and advocating for the industry of the craft spirits producers. Membership is open to anyone.
• American Distilling Institute: The American Distilling Institute is the largest trade association for craft distilling in the world. It is a go-to source for information. In the United States alone, it represents more than 2,000 licensed craft distilleries.
• Distilled Spirits Council of the United States: The Distilled Spirits Council represents leading producers and marketers of distilled spirits in the United States. It works at both local and state levels to make sure the spirits sector is setting the program with public officials. It guards the sector from higher taxes and reduces trade barriers across the world. It supports policies that increase market access for spirits products, provides greater choices for adult consumers, and encourages responsible consumption.
• Wine and Spirits Wholesalers of America: Wine and Spirits Wholesalers represents the wholesale tier of the spirits industry in the United States and has around 400 member companies from 50 states. It enhances the interest and independence of distributors and brokers of wine and spirits. Its members distribute roughly 80% of all wines and spirits in the USA. Headquartered in Washington, D.C., the association represents members before congress, executive agencies, courts, regulatory bodies, and other alcohol beverage industry companies.
• Kentucky Distillers Association: Kentucky Distillers Association has fought for decades to reduce taxes on alcohol beverages. It represents distilling companies including Brown-Forman, Glenmore, Frankfort, and Medley. Since 1936 the association has been a leading voice in bourbon and distilled spirits issues. Membership benefits include media relations, international trade development, private sampling events, economic development support, and regulatory advocacy.

Distillery Industry Publications

The following is a list of publications in the distillery industry:

• Distiller: Distiller magazine promotes and defends the art and enterprise of craft distilling. Through programs of economic development, academic research, and education, it generates greater public awareness and appreciation for the quality and variety of craft spirits.
• Drinks International: Established in 1972, Drinks International is the only magazine devoted exclusively to the global spirits, wines, and beers market. It provides readers with news on the latest trends and developments in the global drinks industry. Every issue includes editorial features, business news, market reports, news analysis, and opinion, making the magazine essential reading for international drinks buyers.
• Spirited: A bi-monthly magazine, Spirited covers the crossover between the beer, spirits, cider and wine industries. It shares trends, stories, research, and techniques to inform and entertain.
• The Drinks Business: The Drinks Business is a global drinks trade publication at the forefront of the industry. It focuses on wine, spirits, and beer, it reacts to trends and developments, and it contributes to the trade with debate, analysis, and opinion.
• The Spirits Business: The Spirits Business publishes varied and insightful features and analysis on a broad range of spirits industry topics. It includes interviews, business news, brand updates and exclusive investigative articles.

Resources (Books, Podcasts, etc.)

The following is a list of resources focused on the distillery industry:

• Books
  • Distillery Operations: How to Run a Small Distillery: Written by a licensed distiller, Distillery Operations focuses on the mechanical, biological, and chemical aspects of operating a distillery, and the regulatory requirements of this highly regulated business. Much of the work is explained in tables that show, for example, how big a still you need to produce 100 gallons of alcohol a day, and how much corn you need to make that 100 gallons. There are also sections about the business of distilling.
  • Distilled Spirits: This is the go-to guide for identifying the best practices and options available for distilled spirits product development. Distilled Spirits is a valuable reference for current and prospective distillers, including researchers in distilling and chemical engineering and students on brewing and distilling programs.
  • The ACSA Guide to Starting and Operating a Distillery E-Book: The ACSA Guide to Starting and Operating a Distillery is a peer-reviewed guide of expert insights detailing the tools and techniques new distilleries need to get their businesses up and running. In addition to serving as a textbook for craft spirits producers in their first one to three years in operation, it is an invaluable resource for onboarding new members of your team, as well as a reference for existing staff to gain a more holistic view of how a distillery operates.
• Podcasts
  • Bourbon Barrel Talk: Bourbon Barrel Talk is a conversation-based podcast that focuses on the spirits industry, primarily bourbon. Guests include distillers, distilleries, and friends who talk about what they love about bourbon and other spirits.
  • Bourbon Pursuits: The best in news, reviews, and interviews with people making the bourbon industry happen. The show dives into bourbon culture with informed, captivating, and casual dialogue. Hosts Kenny Coleman, Ryan Cecil, and Fred Minnick talk with prominent guests and tackle critical American whiskey issues.
  • Distilled Bourbon Podcast: The Bourbon Podcast discovers all that America’s spirit has to offer, from trails to distilleries and everything in between. Co-hosts Brent Bridges, Chuck Stinnett, and Brian McDaniel bring unique perspectives to this popular topic.
  • Distillers Talk: Distillers Talk is hosted by Alan Bishop of Spirits of French Lick and Christi Atkinson. It offers exclusive interviews with distillers and industry experts who share their collective knowledge.
  • Still Talking Podcasts: An educational and entertaining podcast by distillers and industry professionals for people interested in learning about distillation.
  • The Distillery Nation Podcast: Distillery Nation takes listeners inside the story of starting a craft distillery. Ilias Mastrogiannis talks about his own story on starting up a business. The struggles, regulations, costs, and everything in between. In addition to sharing real-world advice, the podcast includes interviews with craft distillers.

Industry Information

• NAICS Codes
  • 312140 – Distilleries
  • 424820 – Wine and Distilled Alcoholic Beverage Merchant Wholesalers
  • 4453 – Beer, Wine, and Liquor Retailers
  • 7224 – Drinking Places (Alcoholic Beverages)
• SIC Codes
  • 424820 – Wine and Distilled Alcoholic Beverage Merchant Wholesalers
  • 312140 – Distilleries

Contact Us Today To Sell Your Distilled Beverages Business

Are you a distilled beverages business owner thinking about selling your company? At Morgan & Westfield, we understand your industry and specialize in distillery businesses. Our founder and president, Jacob Orosz, is committed to the success of your sale and will oversee the process from start to finish. Contact us for a no-obligation consultation – it’s free. We’ll give you expert advice, and once we start working with you, we’ll devise a strategy to maximize the value of your business. Take the first step today.