CARMEL, Ind. and LOS ANGELES, May 26, 2016 /PRNewswire/ -- Beach Whiskey, LLC announced today the closing of its oversubscribed $7.5 million Series A financing round set to fund the national launch of its inaugural portfolio of naturally flavored American whiskey. The Company was formed in early 2015 and after an initial seed capital round of $458 thousand, set out to fully capitalize the business at the beginning of 2016.
Launching June 2016, Beach Whiskey™ invokes a new sentiment for American whiskey, celebrating the beach lifestyle with unconventional flavor profiles and distinguished packaging with the signature etched label on custom sea glass bottles. With the intention of summoning the spirit of the beach life with smooth day-drinkable whiskey, the Beach Whiskey portfolio consists of Bonfire Cinnamon™ (35% ABV / 70 proof) and Island Coconut™ (26% ABV / 52 proof), each 750 ml with a SRP of $23.99.
"This funding will allow us to properly launch Beach Whiskey with our distributors and on-premise national account partners," said J. Smoke Wallin, co-founder & CEO of Beach Whiskey and a serial entrepreneur in the drinks industry. "Our group of world class investors, board and advisory board members is a testament to Beach Whiskey's unique take on the rapidly growing whiskey market."
In addition to Wallin, Beach Whiskey's board of directors now includes Co-founder and TV & Radio personality Billy Bush, co-founder and financial services entrepreneur Andrew McGinnis, Kevin Reilly, president of TNT and TBS and Chief Creative Officer of Turner Entertainment, and Kevin Turner, COO of Microsoft and former CEO of Sam's Club and CIO of Walmart.
Beach Whiskey's advisory board includes:
- Ken Austin, chairman & founder of Avión Tequila, co-founding investor
- Anthony Borquez, CEO & founder of Grab Games and USC professor, co-founding investor
- Rob Dyrdek, serial entrepreneur and pop-culture personality
- Gavin DeGraw, singer, songwriter, co-founding investor
- Kenny Dichter, CEO and founder of Wheels Up, co-founding investor
- Ben Hayes, golfer & financial services executive
- Andrew Kline, founder & CEO of Park Lane and former NFL player
- Jake Owen, singer, songwriter and country music star, co-founder
- David Porter, EVP of Microsoft Stores
Beach Whiskey will use the funding to bring its Coconut and Cinnamon whiskeys to market in California, Florida and Hawaii initially, followed by other select markets. Significant investments in brand marketing, in-store and bar promotions, tastings and live events will maximize brand exposure and trial.
Wallin continued, "Beach Whiskey is the smoothest adult beverage I've ever tasted. A big part of our plan is simply to get liquid to lips. The rest will take care of itself."
Park Lane served as the exclusive financial advisor, Rainmaker Securities served as Broker Dealer, and Bose McKinney & Evans of Indianapolis served as company counsel.
About Beach Whiskey™
Beach Whiskey™ was founded in 2015 by entrepreneurs including TV and radio personality Billy Bush, music stars Jake Owen and Gavin DeGraw, beverage industry veteran J. Smoke Wallin and co-founding investor and advisor Ken Austin, and entrepreneurs co-founder Andrew McGinnis and co-founding investors Kenny Dichter and Andrew Kline. Beach Whiskey is a flavored American whiskey made for sun worshiping, moon chasing, and fun seekers. A whiskey for the wise and the whimsical. A whiskey for those drawn to the water, the waves, who welcome a little wickedness. Beach Whiskey is about time…your time, day time! Born on the beach, enjoyed everywhere. No matter where you are, our mission is to bring the beach – "your place in the sun" – to thirsty, fun-loving whiskey drinkers everywhere. Please sip and swim responsibly!
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SOURCE Beach Whiskey