Scottish whisky business Artisanal Spirits Company has acquired US independent bottler Single Cask Nation.
ASC, an Edinburgh distiller of single-cask and limited-edition whiskies and the owner of DTC whisky business The Scotch Malt Whisky Society, said the purchase would allow it to “take greater advantage of the sizeable and growing American whiskey market”.
Single Cask Nation was “both complementary and incremental to our existing business” and “well aligned with our stated ambition to further grow our presence in the US”, ASC said.
It disclosed it would make an upfront payment for Single Cask Nation, followed by a “larger” sum of up to $500,000 (£394,000) subject to performance in 2024 and 2025.
The purchase was expected to improve its earnings per share within the first full year of ownership, it added.
Single Cask Nation, established in 2011 by Jason Johnstone-Yellin and Joshua Hatton, is an independent bottling brand that sources and bottles rare single-cask and limited-edition whiskies and other spirits.
It has an audience of over 10,000 whisk(e)y drinkers and operates predominantly in the US, as well as other “key international markets”.
Johnstone-Yellin and Hatton would continue to lead the business from their offices in the US following the deal, ASC said.
Artisanal Spirits Company CEO Andrew Dane said: “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.”
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