Edrington, a Scotland-based premium spirits producer, has upped its stake in Wyoming Whiskey from 35% to 80%, the company announced today.
Wyoming Whiskey joined Edrington’s growing whiskey portfolio in 2018, slotting in alongside brands such as The Macallan, Highland Park and The Glenrothes Single Malt Scotch Whiskies. The whiskey and bourbon producer has been part of Edrington’s partnership brands business unit, which has collaborated with colleagues in the U.S. to build Wyoming as a unique ultra premium American whiskey, according to the release.
“With a compelling brand story, natural ultra-premium credentials stemming from its origins, and its inherent scarcity, Wyoming Whiskey is a great fit for Edrington’s ultra-premium strategy,” said Jane Graham, director of partnership brands for Edrington in a statement. “Our majority shareholding gives Edrington the opportunity to get closer than ever to every aspect of Wyoming Whiskey and increase investment behind the brand.”
Wyoming Whiskey has grown in volume and value in the U.S. faster than the ultra-premium American whiskey category, added the release, but did not include figures. Taking a majority shareholding in Wyoming Whiskey was a logical step for both Edrington and the brand, said Edrington CEO Scott McCroskie, citing the ultra-premium American whiskey category’s period of rapid growth.
Based in the town of Kirby, Wyoming Whiskey offers nine different bourbon and rye whiskies. It was founded in 2006 by Brad and Kate Mead and David DeFazio, a trio of Cattle ranchers and attorneys. The brand has positioned itself as the whiskey of the west, leaning on its expression of Wyoming’s character by sourcing corn, wheat, barley, rye and water from the Big Horn Basin. All 37 of its employees in Wyoming will now join the wider Edrington company.
The Glasgow-headquartered spirits group employs over 3,000 people and distributes its brands to more than 100 countries worldwide through joint ventures and third-party agreements. Its whiskey portfolio, which also includes Naked Malt and Noble Oak, is complemented by Brugal, a premium rum from the Dominican Republic, and a strategic partnership with No.3 London Dry Gin. Earlier this month, the company agreed to resolve a pay dispute with its employees in a plant near Glasgow.
American whiskey volume has been accelerating over the last decade, and sales were up 10.5% ($483 million), totaling $5.1 billion in 2022. Premium and above whiskey has also been a driver of spirits growth— more than 60% of the spirits sector’s total revenue was from sales of high-end and super-premium spirits, mainly led by tequila and American whiskey.