Scotch maker Artisanal Spirits snaps up US whiskey brand as it plots expansion
Premium whiskey maker, the Artisanal Spirits Company, has snapped up a US alcohol brand as it looks to grow its presence in America.
The London-listed firm told markets this morning it entered into an agreement to acquire US based Single Cask Nation.
Artisanal Spirits Company is best known for its Scotch Malt Whisky Society, a membership service which gives members access to outturns of the liquor and access to member rooms and tastings.
The firm said the deal is being paid up front, with the potential for a larger earn out of up to $500k (£393k) “dependent on future key performance criteria being met in 2024 and 2025”.
Artisanal Spirits Company said that the deal is aligned with its “stated ambition” to further grow its presence in the US and, in “particular, to take greater advantage of the sizeable and growing American whiskey market”.
According to statistics firm Statista, the whisky market in the United States is projected to grow by 2.49 per cent over the next four years resulting in a market volume of $12.1bn (£9bn) in 2028.
Andrew Dane, chief of The Artisanal Spirits Company, said: “We are thrilled to welcome Single Cask Nation to the Artisanal Spirits Company, alongside the Scotch Malt Whisky Society and J.G. 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.”