Artisanal Spirits Company acquires US whiskey bottling brand
Whisky and experience creator, Artisanal Spirits Company (ASC), has bought out the trade and assets of US-based independent whiskey and spirit bottling brand, Single Cask Nation (SCN).
The deal, effective 3 January 2024, should allow ASC to expand its presence in the US and develop an American whiskey offer to complement the US branch of the Scotch Malt Whisky Society (SMWS), which the UK firm owns globally.
The transaction's valuation has not been disclosed, though the firm revealed the consideration comprises an upfront committed payment, with the potential for a larger earn out of up to $500,000 payable dependent on future key performance criteria being met in 2024 and 2025.
ASC believes that SCN is both complementary and incremental to its existing business. SMWS will continue to focus on delivering Scotch Malt whisky, while SCN will develop a greater focus on American whiskey. The acquisition is also intended to allow ASC to incubate and trial new product propositions in a low-cost and -risk way, with the scope to expand in due course.
The US company was founded in 2011 by Jason Johnstone-Yellin and Joshua Hatton to source, curate and bottle rare single-cask and limited-edition whiskies and other spirits for sale both online and through specialty on- and off-premise accounts in the US and other key international markets.
Both founders will remain with the company and will be supported by whiskey industry veteran Steve Hawley, current president of the American Single Malt Whiskey commission and former vice president of global marketing for Westland Distillery in Seattle, who has also joined the ASC team to help grow and expand its business in the US.
Andrew Dane, chief executive officer of ASC, commented: "We are thrilled to welcome Single Cask Nation to ASC, alongside the SMWS and JG Thomson. This acquisition aligns with our ambition to selectively expand the portfolio in the significant and growing US market, while staying true to our core values of captivating a global community of whisky adventurers with rare and exceptional bottlings.
"The addition of Single Cask Nation will further our mission to create a highly profitable and cash generative premium global business. This is also very much an investment in Jason and Joshua themselves who have cultivated a global following and stellar reputation as thought leaders in the world of whiskey. Together with Steve they will bring a tremendous wealth of knowledge, experience and passion to our business and we're looking forward to welcoming them and their followers into the wider group."
