Ole Smoky Distillery Announces Investment From Patricof Co
GATLINBURG, Tenn.--(BUSINESS WIRE)--Today, Ole Smoky Distillery announces a strategic investment from Patricof Co (P/Co), the New York-based private investment platform for elite professional athletes. P/Co joins Apax Partners, which acquired a controlling stake in Ole Smoky in March 2022.
“Ole Smoky is a true pioneer in the spirits industry and the business continues to thrive, with year-to-date sales pacing to significantly beat our 2021 record of over 1 million 9L cases,” said Robert Hall, CEO, Ole Smoky Distillery. “With P/Co’s consumer expertise and celebrity athlete power, we believe we can accelerate our impressive trajectory as we enter the next chapter of our business.”
Several dozen of P/Co’s world-renowned athlete clients, representing all major U.S. sports, invested in Ole Smoky and are excited to support the company in its continued growth. Participating investors included World Series Champion shortstop for the Los Angeles Dodgers, Trea Turner; NFL Pro Bowler for the Green Bay Packers, Randall Cobb; 4x NBA All-Star, Kemba Walker; Captain of the New York Islanders, Anders Lee; Gold Glove outfielder for the New York Yankees, Harrison Bader; Captain of the Cincinnati Bengals, Sam Hubbard; NFL linebacker & leading podcast host, Will Compton; and Fantasy Football Analyst at NBC Sports, Matthew Berry - to name a few.
Trea Turner said, “As an investor, I love finding brands that deeply resonate with their customers, are growing quickly, and have a great team behind them. Ole Smoky clearly checks those boxes and I’m excited to do my part to help out the brand with my time and resources. When P/Co showed me the opportunity to be a part of the Ole Smoky journey, I couldn’t wait to get involved with Robert and his team.”
Randall Cobb said, “As a Tennessee native, I know how much Ole Smoky means to the community, from their four local distilleries to their charitable work protecting the Great Smoky Mountains National Park. I’m excited to become a part of the Ole Smoky family, and I’m looking forward to supporting this home-grown business as it furthers the great Tennessee distilling legacy.”
Ole Smoky was founded in 2010 in Gatlinburg, Tennessee, and is a leading distiller of premium moonshines and whiskeys, while being known for its high quality, innovative and award-winning flavors. In 2021, the Beverage Information Group awarded Ole Smoky five Growth Brand Awards. The company has also been recognized for three consecutive years on the Inc. 5000 list of America’s fastest growing companies and has been a winner of Shanken’s Impact Hot Brand Award every year since 2017.
Matt Siegel, Partner at P/Co, said, “We are thrilled to partner with Ole Smoky Distillery and look forward to working together to further the Company's legacy of consistent growth, best-in-class distilleries and forward-thinking innovation in craft alcohol."
As the largest craft distiller in the U.S. and home of the most visited distilleries in the world – welcoming over 5.7 million visitors in 2021 - the company now retails its products across all 50 states and over 20 countries around the world.
About Ole Smoky® Distillery LLC
Ole Smoky is the leading distiller of premium moonshine in the world, the leading craft distiller in the U.S. and the first federally licensed distillery in the history of East Tennessee. Founded in 2010, Ole Smoky's roots are traced to the Smoky Mountains' earliest settlers, families who produced moonshine with enduring pride and Appalachian spirit. Today, Ole Smoky retails in all 50 states and over 20 countries around the world and offers more than 25 creative moonshine flavors and 17 inventive whiskey flavors. Ole Smoky can be found in liquor stores nationwide, as well as at the company's four famed distilleries in Tennessee, The Holler and The Barrelhouse in Gatlinburg, The Barn in Pigeon Forge, and 6th & Peabody in Nashville. For more information, please visit olesmoky.com and follow Ole Smoky on social media @olesmoky.
About Patricof Co
Patricof Co (P/Co) is a highly specialized private investment platform designed to meet the unique business needs of professional athletes. Through strong relationships with its athlete clients built through a differentiated service offering and deep consumer sector expertise, P/Co aims to provide strategic capital to support the continued growth of the brands in which it invests. Please visit pco.com and follow @patricofco on Instagram for more information.
Sydney Holsclaw/Mary Reynolds