B.R. Distilling Company, the creator of the award-winning Blue Note Bourbon™, has secured an asset backed line of credit from Live Oak Bank, providing the company with working capital to finance its inventory purchases under its long-term production agreement with Green River Distilling Company, the 10th oldest distillery in Kentucky. The transaction also frees up the company’s other capital for sales and marketing support to fuel the growing brand.
“Live Oak Bank is proud to partner with B.R. Distilling Company to further the company’s growth and support their business needs as they expand their operations,” said Jeff Clark, Vice President of Wine and Craft Beverage lending at Live Oak Bank.
“With decades of industry experience in supporting small business, Live Oak Bank shares our long-term vision for continued growth and innovation,” said Logan Welk, President and Chief Operating Officer of B.R. Distilling.
In connection with the line of credit, the company recently closed a multimillion-dollar financing round from existing shareholders and expanded its production facilities in Memphis to 110,000 square feet, which includes a unique and intimate public tasting room. The company plans to raise a larger growth capital round of equity financing later this year to support continued significant growth as the company executes its strategic plan.
“As we approach our 10th anniversary, we’ve established a strong foundation and are poised to become a break-out brand by continuing to deliver exceptional and innovative products and experiences to whiskey enthusiasts,” said Welk. “We’re well positioned within the premium whiskey category and laser-focused on generating distribution and depletions within our current U.S. markets.”
The company’s whiskey portfolio spends the first year and a day of its life in Kentucky before traveling through Nashville on its way to Memphis where it is then further aged just north of downtown Memphis along the Mississippi and Wolf Rivers, its own micro-climate, with high humidity and higher average temperatures than Kentucky. This forces the whiskey deep into the oak, creating an unmistakably rich flavor that’s bold yet smooth.
