The funds will be used to propel the whiskey brand’s production capabilities so it can reach more drinkers
(PRUnderground) December 20th, 2023
Algoma Capital, Growth Beverage’s lending arm dedicated to supporting whiskey brands and distilleries, is thrilled to announce it has closed a seven-figure strategic transaction with Off Hours Bourbon. The funds will be used to fuel Off Hours Bourbon’s production capabilities, given increased demand for the brand, enabling them to reach more drinkers in 2024 and beyond.
Launched in 2020, Off Hours Bourbon is committed to revolutionizing the preconceived notions surrounding bourbon, shifting away from formalities to offer a classic spirit designed for relaxed settings and casual enjoyment.
Jake Ireland, Founder & CEO of Off Hours, shared his enthusiasm for the partnership, “We chose to partner with Algoma Capital on this transaction because the team understands the unique needs of the whiskey business and our mission. They are true partners, and we look forward to working together to grow our operations so that more drinkers can enjoy our bourbon, anytime.”
Brian Rosen, Founder and Chairman of Growth Beverage, the parent company of Algoma Capital, shared his enthusiasm for the partnership, stating, “Jake and the Off Hours team have demonstrated an unparalleled vision for modernizing the bourbon experience. We are thrilled to offer an infusion of funds that will help them expand their production capabilities so that more people can experience the Off Hours brand.”
Algoma Capital was founded in 2023 and is part of the Growth Beverage portfolio, a collective of brands dedicated to the adult beverage industry that includes private equity firm, InvestBev, and startup accelerator, Sprout Beverage. Algoma Capital has a $100 million fund dedicated to providing non-dilutive operating capital to whiskey brands and distilleries.
About Algoma Capital:
Algoma Capital, established in 2023, operates under the Growth Beverage portfolio, a consortium dedicated to nurturing brands within the adult beverage industry. As part of Growth Beverage, Algoma Capital manages a $100 million fund focused on providing non-dilutive operating capital to whiskey brands and distilleries, enabling them to navigate challenges and accelerate their growth trajectories.
About Growth Beverage
Growth Beverage comprises InvestBev, Sprout Beverage, Algoma Capital, and BevStrat, offering comprehensive support to independent beverage brands across all stages of growth. From incubation and acceleration to retail distribution, venture funding, and operating capital, Growth Beverage provides a holistic ecosystem for beverage brands to thrive.
To learn more, visit growthbeverage.com.
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