Heritage Distilling Holding Company, Inc. made $8.1 million in revenue but lost $31.8 million in the last year. The company’s market cap is $40.6 million.
Newbridge Securities was the underwriter for their IPO.
Heritage Distilling describes itself as a craft distiller creating and selling various award-winning spirits, like whiskeys, vodkas, and canned cocktails. Based in Delaware, the company focuses on taste and innovation to attract customers. They are a leading player in the fast-growing craft spirits market, which generated over $17.7 billion in 2021 and is expected to reach $66.0 billion by 2026, growing at 30.6% annually.
Heritage Distilling claims to be one of the largest craft producers on the West Coast and aims to expand nationally through wholesale and a new sales channel involving Native American tribes known as the Tribal Beverage Network (TBN). The company sells products directly to consumers through its distilleries in Washington and Oregon and via online orders where permitted.
Founded in 2011, Heritage Distilling employs 108 people and is based at 9668 Bujacich Road, Gig Harbor, Washington. For more information, visit Heritage Distilling’s website or call (253) 509-0008.
Note: The net loss and revenue statistics are for the year ending March 31, 2024. Heritage Distilling intends to list its stock as “CASK” on NASDAQ and has adjusted its IPO from 2.0 million shares to 1.5 million, maintaining a price range of $4.50 to $5.50.
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