Heritage Distilling Holding Company, Inc. earned $8.1 million in revenue but had a net loss of $31.8 million over the past year. The company has a market cap of $40.6 million.
Newbridge Securities was the underwriter for its IPO.
The company, based in Delaware, makes a variety of craft spirits, including whiskey, vodka, rum, and canned cocktails. It has been recognized for its innovative products, winning numerous awards from the American Distilling Institute.
Heritage aims to grow more than the market’s expected growth rate of about 30.6% from $17.7 billion in 2021 to $66 billion by 2026. Their strategy includes enhancing direct-to-consumer sales, expanding wholesale distribution, and developing partnerships with Native American tribes to increase brand recognition.
For the 12 months ending March 31, 2024, they reported a loss of $31.8 million. The company has applied to list its stock as “CASK” on NASDAQ.
Founded in 2011, Heritage Distilling is located at 9668 Bujacich Road, Gig Harbor, WA, and has 108 employees. Reach them at (253) 509-0008 or visit heritagedistilling.com.
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