Norfolk Distiller raising funds using Crowdsource Funding 5/7/13.
For Immediate Release
Norfolk area entrepreneur attempting to raise capital to meet growing demand for high quality distilled spirits. Virginia heritage to have strong influence on brand.
Taking advantage of a vibrant and surging market for fine quality distilled spirits (rye whiskey has experienced 50% growth each of the last two years), Three Brothers’ Whiskey Distillery is attempting to raise $100,000 through the popular online “crowd-source” funding site Indigogo
Just as the demand for higher quality beer and wine have taken a significant slice of the overall beer and wine markets, there is ample evidence to suggest that higher end distilled spirits market is going to be the next market segment to skyrocket. Three Brothers will be a startup craft distillery with a desire to locate in South Eastern Virginia. President David Reavis calls upon both his love of fine quality spirits and knowledge of Virginia history and distilling heritage. He will concentrate on the growing demand for high quality craft rye whiskey, artisanal gin, vodka, and un-aged corn liquor
Whiskey products continue to make up the largest share of the market in Virginia and North Carolina. Rye Whiskey has grown on average of 50% annually for the past two years and other high quality market segments continue to see similar growth patterns. Big spirits players like Bacardi and others grew sales in the double-digit range, but simultaneously lost dollar share. Their loss was due to category growth which is Three Brothers entry point.
Alcohol industry consultant Bump Williams told listeners at the American Distilling Institute’s annual conference that mid-sized and small craft brands are filling in the gaps and adding to their share what the big brands are losing out on, picking up 2 share points of this nearly $500,000,000 market.
Three Brothers’ mission is to provide high quality products that incorporate local ingredients.
Anyone can be a part of the fun of growing this unique market. Three Brothers’ Distillery is running a crowd source funding campaign on Indiegogo.com to raise $100,000 dollars to buy their first production still. This will allow Three Brothers’ Whiskey to open their doors and bring the Whiskey Brotherhood to Hampton Roads! They intend to buy a 300-gallon hybrid pot still from their good friends at Artisan Still Design. With this still, they will be able to bring their whiskey, gin, and moonshine to people who share a love of great craft whiskey and fine artisanal spirits.
All money raised during the campaign will be used for the purchase of the still and to open the distillery. If they exceed their goal, the additional monies will fund site preparation and additional equipment to ensure a strong foundation in producing great distilled spirits.
Indiegogo Page: http://bit.ly/11dqths
Norfolk, VA May 7, 20130
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