Foley Family Wines Expands Into Spirits, Acquiring Nevada DistilleryMay 23, 2023
Bill Foley is expanding into the spirits category, announcing a deal to acquire the former Bently distillery in Minden, Nevada for an undisclosed sum. Foley Family Wines plans to produce spirits from local grains at the distillery, selling through both wholesale and DTC channels, with operations to begin immediately. Annual production capacity is currently about six thousand barrels, the company tells SND, and will be expanded moving forward.
The Minden facility includes an American whiskey and white spirits distillery housed in a 100-year-old creamery, as well as an American single malt distillery based in a 100-year-old flour mill. Both buildings are on the National Register of Historic Places. The flour mill includes multiple tasting areas and will serve as a guest experience center. Also included in the deal is existing inventory of Bourbon, single malt, and rye whiskies.
“As the demand for spirits continues to grow and the consumer profile evolves, this is a strategic step for us,” said Foley Family Wines president Shawn Schiffer. “We look forward to integrating spirits brands into our national distribution network and to continuing the important vision of the Bently family.”
Courtney Foley, part of Foley Family Wines’ second generation, noted that the Bently family upgraded the distillery buildings to LEED certification, aligning with Foley’s “commitment to community and sustainability across our vineyards and winery properties.” Minden is located in the Carson Valley close to the Nevada-California border at the eastern base of the Sierra Nevada Mountain range, with close proximity to South Lake Tahoe Mountain resorts.
The distillery property joins a growing list of Foley holdings in Nevada. Those also include the Vegas Golden Knights NHL franchise, the Henderson Silver Knights American Hockey League team, the Vegas Knight Hawks indoor football team, City National Arena, Lifeguard Arena, The Dollar Loan Center, and the Vegas Golden Knights Foundation.
The deal also extends Foley’s long-term run of acquisitions in the wine market into spirits. The most recent acquisition tear started in June 2020, when Foley bought Ferrari-Carano in Sonoma County, adding major volume to his business in a portfolio of wines priced at $15 or higher a 750-ml. Six months later, the company acquired Kenwood, California-based Chateau St. Jean. Most recently, in July 2022, he acquired Silverado Vineyards, a leading producer of luxury wines from estate vineyards across four Napa Valley appellations. Those three purchases brought Foley Family Wines’ volume up to nearly 1.9 million cases in 2022, according to Impact Databank estimates.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
Tagged : Bently Distillery, Foley Family Wines
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