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Pritzker Private Capital acquires Kentucky’s Bardstown Bourbon Company
Kentucky distiller, producer and bottler Bardstown Bourbon Company has been aquired by Chicago investment firm Pritzker Private Capital (PPC).
As part of the deal, PPC is set to invest in Bardstown Bourbon alongside members of the Bardstown Bourbon management team and current investors. However, there is no plan to change the order to how things are being run. According to reports, Bardstown’s president and CEO Mark Erwin, as well as the rest of the distiller’s current management team, will continue to lead the business.
Erwin said: “The PPC team shares our commitment to a culture focused on innovation and teamwork. Together we will build on the legacy of our founder Peter Loftin and take this great company to the next level.”
Pritzker Private Capital, which was co-founded by Illinois Gov. J.B. Pritzker and his brother, Tony Pritzker, referred to the acquisition as a “partnership” and described the takeover as a means of supporting Bardstown and building on what it has already achieved – the opposite to a big corporate buyout.
PPC investment partner Chris Trick added: “Bardstown Bourbon has quickly established itself as a distilling leader for premium Bourbon brands. This partnership is an excellent fit with our experience and focus on investing in innovative food and beverage producers that combine state-of-the-art production capabilities and strong partnerships with leading brands. With its innovative co-manufacturing strategy and experiential approach at its Bourbon Trail location, Bardstown Bourbon is poised for growth and expansion in the attractive premium spirits category. We are pleased to partner with Bardstown Bourbon’s talented leadership team to support the company’s exciting next chapter.”
The financial terms of the acquisition were not disclosed.
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