WhistlePig LLC, the premium rye whiskey company, is reportedly considering a buyout.
According to a news story in Bloomberg, the Vermont-based producer is contemplating a sale after outside parties expressed interesting in acquiring the successful, growing company.
WhistlePig has asked investors to submit formal bids for the buyout.
The company went through internal turmoil last year when the WhistlePig board of managers attempted to boot the company’s founder and CEO, Raj Peter Bhakta and then sell the company. But Bhakta remained, as does the urge to sell, apparently.
In May the company announced that it had secured a $25 million asset-based line (ABL) of credit from JPMorgan Chase, more than doubling its access to liquidity.
As global alcohol companies continue to buy up successful microbreweries, they have recently set their sights on snapping up craft distilleries as well. Just yesterday, Diageo announced a $1 billion purchase of George Clooney’s Casamigos premium tequila brand. WhistlePig may be the next distillery domino to fall.
The distillery’s Boss Hog: Black Prince Rye Whiskey, with a SRP of $349, took the crown at this year’s San Francisco World Spirits Competition as the world’s best whiskey.
