NEW YORK, June 19, 2015 /PRNewswire/ -- Castle Brands Inc. (NYSE MKT: ROX), a developer and international marketer of premium and super-premium branded spirits, today announced that it has purchased approximately 20% of Copperhead Distillery Company, which owns and operates the Kentucky Artisan Distillery. The investment is part of a wide-reaching agreement to build a new warehouse to store Jefferson's bourbons, provide distilling capabilities using special mash-bills made from locally grown grains, and create a visitor center and store to enhance the consumer experience for the Jefferson's brand.
Castle Brand's investment will be used to purchase land near the current distillery and for the construction of a new warehouse and tasting facility in Crestwood, Kentucky. The warehouse will have the capacity to store up to 10,000 barrels, with room for expansion, and will facilitate the continued growth of Jefferson's wood finishes and barrel-aged cocktails.
A Jefferson's visitor center which includes a store, showcases the Jefferson's brand and is already open to visitors.
John Glover, Chief Operating Officer of Castle Brands, said "Kentucky Artisan Distillery is the perfect partner for Jefferson's bourbon. It is the brainchild of Steve Thompson, former President of Brown Forman Distillery Company. They specialize in "Estate grown and distilled" small batch production of very high quality bourbon and rye. Steve not only has a lifetime of experience making the highest quality spirits, but has built a flexible, scalable distillery that can add great value to the Jefferson's brand."
Stephen Thompson, President and General Manager of Kentucky Artisan Distillery, stated "We are excited to partner with Castle Brands to further develop the super-premium Jefferson's portfolio. We look forward to working with Castle Brands for many years to come and welcoming friends to the new Jefferson's visitor center."
About Castle Brands
Castle Brands is a developer and international marketer of premium and super-premium beverage alcohol brands including: Gosling's Rum®, Jefferson's®, Jefferson's Presidential Select™, Jefferson's Reserve® and Jefferson's Ocean Aged at Sea® Bourbon, Jefferson's Chef's Collaboration and Jefferson's The Manhattan: Barrel Finished Cocktail, Jefferson's® Rye Whiskey, Knappogue Castle Whiskey®, Knappogue Twin Wood, Knappogue Castle 1951, Clontarf® Irish Whiskey, Pallini® Limoncello, Boru® Vodka and Brady's® Irish Cream. Additional information concerning the Company is available on the Company's website, www.castlebrandsinc.com.
Forward Looking Statements
This press release includes statements of our expectations, intentions, plans and beliefs that constitute "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are intended to come within the safe harbor protection provided by those sections. These statements, which involve risks and uncertainties, relate to the discussion of our business strategies and our expectations concerning future operations, margins, sales, new products and brands, potential joint ventures, potential acquisitions, expenses, profitability, liquidity and capital resources and to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. You can identify these and other forward-looking statements by the use of such words as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "thinks," "estimates," "seeks," "predicts," "could," "projects," "potential" and other similar terms and phrases, including references to assumptions. These forward looking statements are made based on expectations and beliefs concerning future events affecting us and are subject to uncertainties, risks and factors relating to our operations and business environments, all of which are difficult to predict and many of which are beyond our control, that could cause our actual results to differ materially from those matters expressed or implied by these forward looking statements. These risks include our history of losses and expectation of further losses, our ability to expand our operations in both new and existing markets, our ability to develop or acquire new brands, our relationships with distributors, the success of our marketing activities, the effect of competition in our industry and economic and political conditions generally, including the current economic environment and markets. More information about these and other factors are described under the caption "Risk Factors" in Castle Brands' Annual Report on Form 10-K for the year ended March 31, 2015 and other reports we file with the Securities and Exchange Commission. When considering these forward looking statements, you should keep in mind the cautionary statements in this press release and the reports we file with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and we cannot predict those events or how they may affect us. We assume no obligation to update any forward looking statements after the date of this press release as a result of new information, future events or developments, except as required by the federal securities laws.
SOURCE Castle Brands Inc.