Blue Run Inks Strategic Financing Deal with Advanced Spirits


October 4, 2022

Blue Run Spirits Golden Rye Whiskey Batch 2

Blue Run Spirits announced the closing of a multi-year strategic financing agreement with Advanced Spirits, an innovative industry growth collaborator, to fund and assist in the procurement and maturation of whiskeys produced at or by third-party distillery partners.

This comprehensive agreement will enable Blue Run Spirits to accelerate the company’s sourced and new-make product pipeline to broaden the array of its own premium bourbon and rye whiskeys developed by Liquid Advisor Jim Rutledge and Whiskey Director Shaylyn Gammon.

Blue Run Spirits also recently joined Kentucky Governor Andy Beshear in announcing a new whiskey operation in Georgetown with a nearly $51 million investment which will include a 35,000-square-foot distillery and a 20,000-square-foot rickhouse, set to serve as the company’s first vertically integrated distilling operation and future headquarters.

“Developing a long-term capital structure that allows for a continuous flow of product that meets the very high standards for quality we have established, and customers have come to expect, is critical for the growth of Blue Run Spirits,” said Mike Montgomery, co-founder and CEO of Blue Run, in a news announcement. “Our relationship with Advanced Spirits will allow us to more fully realize our ten-year product portfolio plan, as well as provide us the ability to expand into other markets at an elevated pace.”

“We were attracted to their talented team and commitment to innovative whiskeys in the premium space. We are eager to provide long-term stability and assurance at a time when industry and global supply chains are increasingly complex,” said Dr. Rob Arnold, President of Advanced Spirits.

Blue Run has introduced ten bourbon and rye whiskey releases since the company launched in October 2020, with many of those selling out in mere minutes. The brand’s 13.5-Year-Old Single Barrel Bourbon was awarded top category honors at the prestigious 2021 San Francisco World Spirits Competition winning Best Single Barrel Bourbon – 11 Years & Older, as well as a Double Gold Medal. In addition, Blue Run 14-Year-Old Small Batch Bourbon won Best Small Batch Bourbon – 11 Years & Older, along with a Double Gold Medal; and the Golden Rye Whiskey received a Gold Medal in San Francisco the same year. Most recently, the brand received two platinum and a double gold medal at the 2022 SIP Awards.

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