Algoma Capital, Growth Beverage’s lending arm dedicated to supporting whiskey brands and distilleries, is thrilled to announce it has closed a seven-figure strategic transaction with Off Hours Bourbon. Given the increased demand for the brand, the funds will fuel Off Hours Bourbon’s production capabilities, enabling it to reach more drinkers in 2024 and beyond.
Launched in 2020, Off Hours Bourbon is committed to revolutionizing the preconceived notions surrounding bourbon, shifting away from formalities to offer a classic spirit designed for relaxed settings and casual enjoyment.
Jake Ireland, Founder & CEO of Off Hours, shared his enthusiasm for the partnership, “We chose to partner with Algoma Capital on this transaction because the team understands the unique needs of the whiskey business and our mission. They are true partners, and we look forward to working together to grow our operations so that more drinkers can enjoy our bourbon anytime.”
Brian Rosen, Founder and Chairman of Growth Beverage, the parent company of Algoma Capital, shared his enthusiasm for the partnership, stating, “Jake and the Off Hours team have demonstrated an unparalleled vision for modernizing the bourbon experience. We are thrilled to offer an infusion of funds to help them expand their production capabilities so that more people can experience the Off Hours brand.”
Algoma Capital was founded in 2023 and is part of the Growth Beverage portfolio, a collective of brands dedicated to the adult beverage industry that includes private equity firm InvestBev, and startup accelerator, Sprout Beverage. Algoma Capital has a $100 million fund dedicated to providing non-dilutive operating capital to whiskey brands and distilleries.
