Diageo-Backed Pronghorn Invests In Ten To One RumAugust 23, 2022
Pronghorn, a brand incubator and accelerator backed by Diageo focused on boosting Black-owned drinks brands, has announced a minority investment in Caribbean rum brand Ten To One, founded by CEO Marc Farrell and co-owned by Grammy-winning artist, Ciara. Pronghorn will make an undisclosed capital investment in the brand and help Ten To One scale its business.
Farrell, a former SVP at Starbucks, founded Ten To One in 2019. The super-premium brand is currently present across 20 states. Pronghorn’s mission is to “cultivate the next generation of Black entrepreneurs, executive leaders, and founders within the spirits industry,” according to co-founder Erin Harris. Pronghorn plans to make 57 such investments over the next decade, of which Ten To One is the first.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.