Jim Beam Just Made a $400 Million Bet on Its Own Bourbon Distillery

Jim Beam is ane of the best-known names in bourbon, if not the biggest, and 1 of the largest producers in the US. Information technology appears that growth is fix to continue, as parent company Beam Suntory only announced it will be investing $400 million into Beam's Booker T. Noe Distillery located in Boston, Kentucky.

This is the working distillery, not the funhouse y'all become to tour when you visit the Jim Beam American Stillhouse. The Booker Noe Distillery already has a capacity to produce tens of millions of bourbon annually, but this investment will aggrandize that as well every bit creating l new total-time jobs at the distillery. This means more Jim Beam White Label and all of its many siblings, too as brands similar Booker's, Basil Hayden, Sometime Overholt, Old Grand-Dad and Legent. "We are excited about this expansion opportunity at our Booker Noe site, building on our recent investment in the new consumer feel in Clermont, and now expanding production to ensure enough of our premium liquid is available wherever consumers are looking for them," said managing managing director of the James B Beam Distilling Co., Carlo Coppola, in a argument.

More from Robb Report

• American Single Malt May Before long Become an Officially Recognized Whiskey

• This Transatlantic Rye Was Made With Whiskey From Both Sides of the Pond

• Why This Israeli Distillery Is Boldly Calling Its Newest Spirit 'Kentucky Whiskey'

The news was announced via a press release from Kentucky governor Andy Beshear's office, but there were no specifics available every bit to exactly what the expansion will entail. But Beshear'due south office is touting the growth of the Kentucky spirits manufacture during his tenure, with more than a billion dollars invested and near 1,000 new jobs created. The Kentucky bourbon industry is currently worth most $ix billion, according to the governor's function, and employs more 22,000 people.

Last September, the new Fred B. Noe Distillery opened, with eighth generation family member Freddie Noe having been principal distiller this past spring. So it appears that the James B. Axle Distilling Co. is betting on the connected growth of bourbon, and Kentucky bourbon specifically, even though recent reports evidence that tequila will soon outpace American whiskey sales in the U.s.a.. However, Axle Suntory has its own stable of agave spirits brands, so even if those sales surpass bourbon, the American whiskey industry is not actually showing any signs of slowing down.

Best of Robb Study

• The Ultimate Guide to Wagyu Beefiness, the World's Most Luxurious Steak

• Why a Heritage Turkey Is the All-time Thanksgiving Bird—and How to Go One

• The 10 Best Wines to Pair With Steak, From Cabernet to Malbec

Sign up for Robb Report's Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.

Click hither to read the full article.

Source: https://sports.yahoo.com/jim-beam-just-made-400-230004667.html

Posted by: carterthreatin1945.blogspot.com

Share this post