Hawaii's Koloa Rum Company Announces Strong 2017 Financials

Employees receive bonuses, pay raises

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Mar 21, 2018, 10:11 ET

KALAHEO, KAUAI, Hawaii, March 21, 2018 /PRNewswire/ -- Hawaii's award-winning Koloa Rum Company has reported 2017 annual revenues and profits well above those earned in 2016. The company will award all of its employees with $1,000 bonuses and five percent salary increases each.

The financial growth is attributed to Koloa Rum Company's steady climb to becoming the largest Hawaii-based premium rum brand, as well as the recently enacted Craft Beverage Modernization and Tax Reform Act, which provides short-term reduction on alcohol Federal Excise Tax (FET) for the first time since the Civil War.

Koloa Rum Company will award all of its employees with $1,000 bonuses and five percent salary increases each as a result of a strong 2017.

"2017 was a remarkable year for Koloa Rum Company," said Koloa Rum Company President and CEO Bob Gunter. "We are grateful that Congress recognized the burden that the FET placed on small distilleries like ours. The reduced FET and corporate income tax rates allowed us to reinvest savings back into our business and, most importantly, reward our hardworking team members."

Koloa Rum Company's financial success will also allow the company to increase its match to the employees' 401k plan from four percent to seven and a half percent in 2018; add a new bottling line to increase its production capacity and operating efficiency; accelerate plans for a new distillery; and bolster its distribution, sales and marketing programs.

The company employs 31 individuals in Hawaii as well as one staff member in California and another in Florida.

Established in 2009, Koloa Rum Company produces artisanal, single-batch Hawaiian rum and ready-to-drink cocktails at its distillery in Kalaheo, Kauai and operates the island's first and only distilled spirits Tasting Room and Company Store.

The company's award-winning rums are distilled in a vintage copper-pot still and uses only the finest local ingredients, including Hawaiian cane sugar, pure mountain rainwater and aloha. Koloa Rum Company's portfolio includes its premium Kauai White, Gold, Dark, Spice, Coconut and Coffee rums. In January 2018, Koloa Rum released its first-ever Kauai Reserve Three-Year Aged Hawaiian Rum. Products are available for purchase online, at select retailers nationwide, as well as in Canada, France and Japan.

Contact:
Rachel Martin
[email protected]
(808) 332-9333

SOURCE Kōloa Rum Company