Blue Run Spirits announces a strategic multi-year agreement with Truist Financial Corporation to finance company growth and the acquisition of barrels from third-party whiskey partners and contract distillers. Blue Run is the first company to access Truist’s new asset-based barrel financing program.
Truist’s groundbreaking barrel financing program provides Blue Run with the incredible financial flexibility to purchase barrels on the open market or those produced through contract distilling. As the company’s whiskey ages and rises in value, Blue Run’s barrels can be independently appraised, allowing the company to access more capital by tapping into the increase in barrel asset value. This provides Blue Run with the funds it needs to fuel its rapid expansion without expensive equity capital or pricey private debt solutions.
Blue Run Spirits has introduced twelve bourbon and rye whiskey releases since the company launched in October 2020. The company’s most recent offering, launched in November, is Blue Run Emerald Rye – the company’s first barrel-proof rye whiskey and the first rye whiskey contract distilled at Castle & Key Distillery by Bourbon Hall of Famer and Blue Run Liquid Advisor Jim Rutledge.
The company recently joined Kentucky Governor Andy Beshear in announcing a new whiskey operation in Georgetown with a nearly $51 million investment, including a 35,000-square-foot distillery and a 20,000-square-foot rickhouse, set to serve as the company’s first vertically integrated distilling operation and future headquarters.