15for2
12 hours ago
Heritage Distilling Co. Announces Recent Achievements and Key Milestones for Salute Series Line of Premium Whiskeys
March 06 2025 - 8:11AM
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Heritage Distilling Company, Inc. ("HDC" or "Heritage" or the “Company”) (Nasdaq: CASK), a leading craft distiller of innovative premium brands, today announced recent achievements and key milestones for its Salute Series line of products. The Company also announced that projected revenue for fiscal year 2024 is expected to be its highest since 2021. The Company will file full year 2024 financial results on Form 10-K at the end of March 2025.
“With a successful 2024 completed, we are excited about first quarter 2025 sales momentum, especially for our new Salute Series line of specialty whiskeys and premium bourbons,” said Justin Stiefel, CEO and co-founder of Heritage Distilling Co. “We are seeing tremendous response and growing loyalty to our Salute Series brand, which is designed to honor and support active duty and retired military personnel, as well as first responders and their families. Since its launch in fourth quarter 2023, the Salute Series has sold nearly 2,000 cases overall, the majority of which were sold direct to consumer (DTC) at the highest margin we have ever achieved. Online sales of the Salute Series since launch are more than $2.4 million in just 15 months, a remarkable achieve for a new brand out of the gate. In addition, those purchases by loyal consumers have raised more than $200,000 for Heritage’s military and first responder charity partners.”
Through the first half of Q1 2025 to date, eCommerce revenues from online sales surpassed fourth quarter 2024 eCommerce revenue. Normally the fourth quarter is the strongest period of the year for most spirits brands, but Heritage’s first quarter 2025 eCommerce revenue has already outpaced fourth quarter sales results.
“Our pace of sales is practically unheard of in the spirits world for a new to consumer brand, but it’s a good indication that consumers are responding well to the Salute Series line of spirits online,” Stiefel added. “A similar example of success was the launch of the Battle of Iwo Jima 80th Anniversary limited edition bottle in January, which sold out 2,200 bottles in less than three weeks. We have generated a waiting list due to the demand for the second release of that specialty whiskey, which will be back in stock soon."
The Company is focused on repeat orders as a measure of growing brand loyalty. So far, Heritage’s data shows that for online eCommerce orders, almost 30% of the online Salute Series revenue comes from repeat buyers. Not only are the repeat customers buying more bottles, but they are also spending more when they return to shop online. The Company believes that the large number of repeat buyers for its new brand in just over a year is a significant accomplishment and a testament to the quality of the product and the importance of the mission behind the brand.
Speaking about the Company’s growth plan for the Salute Series, Stiefel provided context on current dynamics in the bourbon and whiskey industry. “Just as we are seeing broader adoption for our Salute Series line, with increasing purchases and reorders, the cost of high-quality bourbon in bulk is falling fast. More than 14 million barrels of aged bourbon are sitting in Kentucky (the most ever), with reports of a projected 3 million more barrels being laid down this year in Kentucky alone. That growing sea of bourbon must find a home. A significant number of those barrels are owned by speculators, investors and high-net-worth parties and institutions who have no brands, no labels, no distribution, no path to market, no relationship with the consumer, and no viable way to use the product for its highest and best use, which is in the bottle. Like many speculators, when the music stops, they all start scrambling for chairs.”
He continued, “Now that many of those parties are looking for exits, we have entered a bourbon arbitrage period in our favor that we could not have forecast even a year ago. Just as sales and prospects for our Salute Series are growing, the most important and expensive part of our inputs are dropping in price—high-quality bourbon carrying the premium Kentucky moniker. We believe this could allow us to get more aggressive in acquiring high value inventory as it comes to market, such as bulk deals for distributors who want to bring our premium spirits into their states, or potentially increasing our donations to partner charities if margins increase. In short, we do not see a supply shortage for premium bulk bourbon in the near term.
“As always, we thank our customers, vendors, suppliers, partners and stockholders for the faith and support they have given us as we execute on our plans,” Stiefel concluded.
About Heritage Distilling Company, Inc.
Heritage is among the premier independent craft distilleries in the United States offering a variety of whiskeys, vodkas, gins, rums and ready-to-drink canned cocktails. Heritage has been North America's most awarded craft distillery by the American Distilling Institute for ten consecutive years out of the more than 2,600 craft producers. Beyond this remarkable achievement, Heritage has also garnered numerous Best of Class, Double Gold, and Gold medals at esteemed national and international spirits competitions. As one of the largest craft spirits producers on the West Coast by revenue, the company is expanding its presence nationwide through a diverse range of sales channels, including wholesale, on-premises venues, e-commerce and the innovative Tribal Beverage Network (TBN). The TBN initiative, a groundbreaking collaboration with Native American tribes, focuses on developing Heritage-branded distilleries, unique tribal brands and tasting rooms tailored to tribal communities. By serving patrons of tribal casinos and entertainment venues, the TBN creates meaningful economic and social benefits for participating tribes, while providing an additional avenue for tribes to exercise and strengthen their sovereignty. This unique partnership reflects Heritage’s commitment to innovation, community engagement and sustainable growth.
Forward-Looking Statements
This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "aims," "anticipates," "believes," "could," "estimates," "expects," "forecasts," "goal," "intends," "may," "plans," "possible," "potential," "seeks," "will," and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking statements include, without limitation, statements regarding anticipated results or benefits anticipated from awards or accolades received for Heritage’s products and the implications that may come from it.
Any forward-looking statements in this press release are based on Heritage’s current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risks of slowing growth for its online eCommerce sales, interruptions in that market segment, or the availability and pricing of bulk bourbon for its products. These and other risks concerning Heritage’s programs and operations are described in additional detail in its registration statement on Form S-1, and its quarterly 10-Q filings, which are on file with the SEC. Heritage explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.
Investor Contact
ir@heritagedistilling.com
Attachment
Heritage Distilling Company, Inc.
https://ih.advfn.com/stock-market/NASDAQ/heritage-distilling-CASK/stock-news/95579591/heritage-distilling-co-announces-recent-achieveme
15for2
1 week ago
today's news:
Heritage Distilling Co. Cocoa Bomb Chocolate Whiskey Named “Best Flavored Whiskey” in the United States at Whisky Magazine’s World Whiskies Awards
February 25 2025 - 8:30AM
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Heritage Distilling Company, Inc. ("HDC" or "Heritage") (Nasdaq: CASK), a leading craft distiller of innovative premium brands, announced its Cocoa Bomb Chocolate Whiskey was named “Best Flavored Whiskey” in the United States by Whisky Magazine at its regional World Whiskies Award. The whiskey will move forward to compete for Whisky Magazine’s “World’s Best Flavored Whiskey” later this winter. Previously, Heritage Distilling has twice won Best Flavored Whiskey in the United States and Best Flavored Whiskey in the World for Brown Sugar Bourbon.
"We are incredibly proud that our Cocoa Bomb Chocolate Whiskey has received this prestigious honor from the tasting panel at Whisky Magazine. This recognition—one of the most respected in the industry—is a testament to the dedication and craftsmanship our team pours into every bottle, ensuring that each flavored whiskey we create captures the essence of true, authentic flavors," said Justin Stiefel, CEO and co-founder of Heritage Distilling Co. "Heritage has been the most awarded craft distillery in North America for a decade, and with Cocoa Bomb earning this distinction—our third win in this category—we continue to solidify our presence in the rapidly growing flavored whiskey market."
Cocoa Bomb Chocolate Whiskey is bottled at 75-proof and naturally flavored. No artificial flavors, sweeteners or ingredients are used. Flavor notes include a burst of semi-sweet dark cocoa, cocoa nibs and a rich chocolate nose with the signature whiskey finish. Cocoa Bomb Chocolate Whiskey is available in 750 ml and 50 ml size formats at select spirits retailers. It is also available in HDC tasting rooms and online for direct-to-consumer orders.
For more information about Heritage Distilling and its suite of award-winning products, visit: heritagedistilling.com.
About Heritage Distilling Company, Inc.
Heritage is among the premier independent craft distilleries in the United States offering a variety of whiskeys, vodkas, gins, rums and ready-to-drink canned cocktails. Heritage has been North America's most awarded craft distillery by the American Distilling Institute for ten consecutive years out of the more than 2,600 craft producers. Beyond this remarkable achievement, Heritage has also garnered numerous Best of Class, Double Gold, and Gold medals at esteemed national and international spirits competitions. As one of the largest craft spirits producers on the West Coast by revenue, the company is expanding its presence nationwide through a diverse range of sales channels, including wholesale, on-premises venues, e-commerce, and the innovative Tribal Beverage Network (TBN). The TBN initiative, a groundbreaking collaboration with Native American tribes, focuses on developing Heritage-branded distilleries, unique tribal brands, and tasting rooms tailored to tribal communities. By serving patrons of tribal casinos and entertainment venues, the TBN creates meaningful economic and social benefits for participating tribes, while providing an additional avenue for tribes to exercise and strengthen their sovereignty. This unique partnership reflects Heritage’s commitment to innovation, community engagement, and sustainable growth.
Forward-Looking Statements
This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "aims," "anticipates," "believes," "could," "estimates," "expects," "forecasts," "goal," "intends," "may," "plans," "possible," "potential," "seeks," "will," and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking statements include, without limitation, statements regarding anticipated results or benefits anticipated from awards or accolades received for Heritage’s products and the implications that may come from it.
Any forward-looking statements in this press release are based on Heritage’s current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risks of expanding sales and revenue due to awards or accolades received for Heritage’s products and any consumer response that would be expected to result therefrom. These and other risks concerning Heritage’s programs and operations are described in additional detail in its registration statement on Form S-1, and its quarterly 10-Q filings, which are on file with the SEC. Heritage explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.
Contacts:
Investors Media
Scott Eckstein Francesca DeMauro
heritage@ksca.com heritage@ksca.com
(212) 896 1210 (917) 880 9771
https://ih.advfn.com/stock-market/NASDAQ/heritage-distilling-CASK/stock-news/95506673/heritage-distilling-co-cocoa-bomb-chocolate-whisk
15for2
1 month ago
todays news:
Coquille Tribe Breaks Ground on New Distillery, Heritage Distilling-Branded Tasting Room & Expanded Entertainment Zone at Coos Bay Casino
February 04 2025 - 8:30AM
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Heritage Distilling Company, Inc. ("HDC" or "Heritage" or "The Company"), a leading craft distiller of innovative premium brands, and the Coquille Indian Tribe of Oregon announced the ground breaking of Oregon’s first Tribally-Owned distillery and tasting room, located at The Mill Casino-Hotel & RV Park on Coos Bay, in North Bend, Oregon. The project broke ground this month and is expected to open to the public by the end of the year. Both Heritage and Coquille-branded spirits will be produced and bottled on Tribal land and sold at the casino’s several bars, restaurants and retail outlets.
“After more than two years of planning, negotiating with the state of Oregon, and completing design work, we are thrilled to have broken ground on this historic project,” said Margaret Simpson, Chief Executive Officer of CEDCO, the Tribe’s venture arm that owns and operates The Mill Casino-Hotel & RV Park. “All members of the team, including Heritage Distilling and fi architecture, have brought forth a design for a customer experience space that will be unparalleled for hundreds of miles in every direction. The completion of this project at The Mill further solidifies our casino and resort as the premier destination in the region.”
The project will feature an updated Plank House restaurant, two indoor digital golf suites and a Heritage-branded tasting room. Spanning two levels and with panoramic views of Coos Bay, the tasting room includes two full-service bars, a cigar lounge, retail space, private event suites and Heritage’s proprietary Cask Club®.
Led by Justin and Jennifer Stiefel since 2011, Heritage is the most-awarded craft distillery in North America by the American Distilling Institute for a decade and is recognized for its brand family of premium whiskies, gins, vodkas, rums and ready-to-drink cocktails. Beyond their mastery of distilling, the Stiefels saw both an injustice done to Native American indigenous communities and a mutually beneficial economic opportunity to create national distribution for Heritage’s portfolio of craft spirits. Together, they established the Tribal Beverage Network (TBN), a first-of-its-kind partnership with Native American Tribes to develop Heritage-branded distilleries, brands and tasting rooms to serve patrons of Tribal casinos and entertainment venues.
Jennifer Stiefel, president and co-founder of Heritage Distilling, added: “We are honored to break ground on this historic project with the Coquille Tribe. This marks a significant milestone for the Tribe, the Tribal Beverage Network and Oregon’s craft spirits industry. The Tribe’s commitment to economic self-sufficiency and innovation aligns perfectly with Heritage Distilling’s mission, and we are proud to stand alongside them in bringing the state’s first Tribally-Owned distillery to life. This is more than a distillery—it’s a long-term economic resource that will support the Tribe for generations to come.”
The distillery will be modeled after Heritage’s industry-leading operations derived from its five distilleries and tasting rooms across Washington and Oregon. As a TBN partner, the Coquille-owned and operated destination will also offer several amenities for patrons including a tasting room that features Heritage spirits like Cocoa Bomb Chocolate Whiskey, Heritage canned cocktails, Florescence Vodka, Stiefel’s Select Single Barrel and small batch whiskeys, and Heritage’s latest Salute Series which honors and supports military and first responder communities.
In addition to on-site tastings, the Coquille distillery will also extend unique membership programs available to TBN partners: The Cask Club®, an annual membership-based program that allows members to create, customize and age spirits of their choice; and The Spirits Club®, a program that provides members quarterly shipments of Heritage’s award-winning spirits delivered directly to their door at a reduced rate, as well as priority access to new, limited and seasonal releases.
The project designs were conceived by the team at fi architecture in Gig Harbor, Washington, the longtime design partner for all of Heritage Distilling’s retail and TBN locations. Detailed renderings of the project can be found on the fi architecture website here.
TBN members can benefit from wholesale and retail margins and tax capture. In addition, Tribes entering this industry can generate funds to support social and economic initiatives, increase employment, diversify the skillsets of their members and work with Heritage to create their brands to celebrate the unique characteristics of a Tribe or region.
The Coquille Tribe’s announcement follows on the heels of a recent announcement by the Tonto Apache Tribe in Payson, Arizona on its plans to open a Heritage Distilling branded location in partnership with Heritage at the Mazatzal Hotel and Casino’s newest development, Apache Corners. Until recently, an 1834 federal law prohibited anyone from setting up a distillery on Tribal land for manufacturing “ardent spirits.” In large part due to Heritage Distilling Company’s efforts, the antiquated Andrew Jackson-era law was finally repealed by Congress in 2018, paving the way for the Coquille Indian Tribe to pursue distillery operations on Tribal lands.
Heritage has several other Tribes participating in TBN, with partnership announcements planned in line with each Tribe’s development timeline. For more information on Heritage Distilling Company and the Tribal Beverage Network, visit heritagedistilling.com.
About the Coquille Indian Tribe
The Coquille Indian Tribe flourished in Oregon’s southwestern corner for thousands of years, cherishing the bountiful forests, rivers and beaches of a homeland encompassing more than 750,000 acres. In 1954, Congress declared the Coquille Tribe “terminated.” 35 years later the Tribe was formally restored to federal recognition in 1989. Today the Tribe numbers more than 1,100 members and it has regained more than 10,000 acres of ancestral homeland, proudly managing the bulk of it as sustainable forest. The Tribe provides education assistance, health care, elder services and (where needed) housing assistance to its people, while contributing substantially to the surrounding community’s economy. Its various enterprises employ approximately 600 people, and its community fund is the region’s leading local source of charitable grants.
About Heritage Distilling Company, Inc.
Heritage is among the premier independent craft distilleries in the United States offering a variety of whiskeys, vodkas, gins, rums and ready-to-drink canned cocktails. Heritage has been North America's most awarded craft distillery by the American Distilling Institute for ten consecutive years out of the more than 2,600 craft producers. Beyond this remarkable achievement, Heritage has also garnered numerous Best of Class, Double Gold, and Gold medals at esteemed national and international spirits competitions. As one of the largest craft spirits producers on the West Coast by revenue, the company is expanding its presence nationwide through a diverse range of sales channels, including wholesale, on-premises venues, e-commerce, and the innovative Tribal Beverage Network (TBN). The TBN initiative, a groundbreaking collaboration with Native American Tribes, focuses on developing Heritage-branded distilleries, unique Tribal brands, and tasting rooms tailored to Tribal communities. By serving patrons of Tribal casinos and entertainment venues, the TBN creates meaningful economic and social benefits for participating Tribes, while providing an additional avenue for Tribes to exercise and strengthen their sovereignty. This unique partnership reflects Heritage’s commitment to innovation, community engagement, and sustainable growth.
Forward-Looking Statements
This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "aims," "anticipates," "believes," "could," "estimates," "expects," "forecasts," "goal," "intends," "may," "plans," "possible," "potential," "seeks," "will," and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking statements include, without limitation, statements regarding anticipated results or benefits anticipated from the opening and operation of the TBN location mentioned in this press release or any other current or potential TBN location. Any forward-looking statements in this press release are based on Heritage’s current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risks of expanding sales and revenue due to the addition of new members of the executive team or new directors to the board. These and other risks concerning Heritage’s programs and operations are described in additional detail in its registration statement on Form S-1, which is on file with the SEC. Heritage explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.
Contacts
The Mill Casino
Michael Laffey
Mlaffey@themillcasino.com
(541) 252-8251 Heritage Distilling Co.
Investors
Scott Eckstein
Heritage@kcsa.com
(212) 896-1210
Heritage Distilling Co.
Media
Francesca DeMauro
Heritage@kcsa.com
(917) 880-9771
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