Is Old Carter Bourbon For Sale?
An auction notice was recently posted online under the heading, “Acquisition Opportunity: Kentucky Premium Whiskey Distillery.” The listing describes "a leading premium craft whiskey spirits brand" located on Kentucky's Bourbon Trail, which includes a “fully equipped and licensed distillery with aged barrel inventory and raw materials to support production with finished luxury-priced bottled goods ready to sell,” and a "private club and tasting space."
Insiders within the bourbon community are speculating whether this could be Old Carter Whiskey Co. The brand, well-known for its small-batch releases and premium spirits, has a similar business profile and physical footprint as the listed company. At the present time, however, there is no confirmation that the business in question is Old Carter, nor that the company is for sale.
The History Of Old Carter
Old Carter Whiskey Co. was founded by Mark and Sherri Carter, who transitioned to whiskey after successful careers in the California wine industry. In 2011, they revived the historic Kentucky Owl bourbon brand, eventually selling it in 2017 to Stoli Group USA, LLC. After the sale, they established Old Carter, with its headquarters in Louisville, Kentucky, on historic Whiskey Row. Old Carter’s small batch bourbons, ryes and American whiskeys are limited and highly coveted, with yields varying between 1,200 and 2,400 bottles per release.
As non-distiller producers (NDPs), they source high-quality barrels of whiskey, carefully blend them, and bottle them at barrel strength, with the Carters directly involved in crafting each release. Their focus on quality has earned them a reputation for crafting some of the best American whiskeys on the market. Kentucky and Bourbon Trail visitors often seek out these exclusive bottles, which have distribution in multiple regions, another detail that resonates with the auction listing.
Behind The Whiskey Distillery Auction
According to the auction listing, the distillery in question has received "multiple industry awards" and enjoys "widespread recognition in its home state." The listing goes on to describe a brand that has "thrived through the pandemic" and reached profitability quickly. These aspects, along with 1,300 barrels of aging inventory, luxury-priced finished goods ready to sell, and real estate holdings all suggest a company in line with Old Carter's history, assets, and business model.
The listing also mentions that production ceased in 2024 due to a "mediated settlement between the owners," which aligns with rumors that Old Carter may be going through ownership changes. Unfortunately, the Carters are in the middle of divorce proceedings. While past statements suggested they planned to continue working together in running the company, the auction notice could be a new turn for the brand, which is beloved by whiskey aficionados.
UPDATE
On December 12, Mark Carter successfully won back Old Carter at auction for $18,650,750. Working with business partners Bill Thomas, Jared Hyman, and Zach and Hayden Wright, Carter will maintain a 50% ownership stake in the company, which includes Old Carter Whiskey Company LLC, Kentucky Spirit Bottling, and related properties.
“I am a very happy guy right now,” Carter told Fred Minnick in a phone interview, adding, “I love Old Carter. I could take the money and run with it, but it’s got my name on it and I plan to make it into a national brand and do it in a right way.”
Photographs courtesy of Old Carter Whiskey Co.
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