News Briefs for December 8, 2017December 8, 2017
•Beam Suntory-owned Jim Beam has filed for a $585 million industrial revenue bond with the Kentucky Economic Development Finance Authority. The bond, according to KEDFA documents, will help finance up to 15 rickhouses. The bulk of the proposed bond would go to purchasing equipment (around $493 million) and the balance would go to land development ($2 million) and building costs ($90 million). “Over the next five years, including capital expenditures, barrel purchases, grains and labor, we will thus invest well over $1 billion to make Bourbon in Kentucky,” Suntory Holdings president and CEO Takeshi Niinami told SND in May. “We want to make use of our cash to build more warehousing—not just for Jim Beam, but also for the small-batch Bourbons like Knob Creek and Booker’s.”
•Bacardi is gearing up to host a “United For Puerto Rico” Concert and Telethon on December 10, with all proceeds going directly to organizations supporting hurricane relief efforts on the island. The concert, which will feature renowned musicians like El Gran Combo alongside up-and-coming local acts, will be held on the grand lawn of the 127-acre Bacardi distillery. Tickets are free and have already been distributed throughout the island, with about 25,000 people expected to attend. The concert will be broadcast on both local and mainland U.S. channels as well as around the world on Facebook Live. As part of their ongoing commitment to the island, the Bacardi family and company have committed more than $3 million to relief efforts in Puerto Rico, activated two Emergency Stop & Go Relief Centers, and deployed 11 mobile relief caravans to provide aid to some of the hardest hit communities in Puerto Rico following Hurricane Maria.
•Castle Brands’ Knappogue Castle Irish Whiskey has launched a new limited edition for the holiday season. The special edition of Knappogue 12-year-old single malt whiskey is bottled at 46% abv (6% abv higher than the standard release) and was aged in first-fill Bourbon barrels. Knappogue Castle Single Malt 12-year-old Special Barrel Reserve is exclusively available on ReserveBar.com, priced at $65 a bottle.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.