Award-winning Caledonia Spirits Booming with Craft Spirits Trend
Vermont Business Magazine FreshTracks Capital has made a new investment in a rapidly growing Vermont distillery, Caledonia Spirits, maker of Barr Hill Gin, Tom Cat Gin, and Barr Hill Vodka.This is the fifth Vermont company that FreshTracks has invested in during 2017. Terms were not disclosed. The Vermont-based distillery has received numerous national and international awards and accolades, including “Gin of the Year” at the Hong Kong International Wine and Spirits Competition, “Double Gold” at the New York International Spirits Competition, and “Best in Class” at the American Distilling Institute’s Judging of Craft Spirits. The company has entered 12 competitions and received 30 awards, 16 of those being gold medals or “best-in” designations.
Barr Hill has quickly become one of the nation’s fastest growing “super premium” gin brands, a vibrant category which is projected to double in the next 5 years. American Cocktails says, “Search the seven seas if you must, but you won’t find a more enchanting set of spirits than that of the honey-laced gems from Caledonia.”
Caledonia Spirits was founded in 2009 by Todd Hardie as an extension of Honey Garden Apiaries, where he spent more than 30 years raising bees and selling honey. True to form, Caledonia Spirits products are distilled on-site using the finest quality raw northern honey.
Ryan Christiansen, Caledonia Spirits Head Distiller, took over operations in 2015 and is now the growing company’s President. An earlier round of capital investment by a group of Vermont angel investors, and Caledonia Spirits CFO, Aminta Conant, aided the transition, and helped the company expand distribution to 30 states.
To increase distribution further nationally, Caledonia Spirits partnered with FreshTracks Capital to invest in the company’s growth. FreshTracks was joined by other local Vermont-based angel investors in the $1MM investment to help fuel the young company’s expansion.
T.J. Whalen, Managing Director for FreshTracks Capital, said, “The craft spirits trend is still early in its development, similar to where craft beer was 10 or 20 years ago. We believe the entire craft spirits segment will continue to expand. And the winners in this segment will be those well-differentiated brands that are keenly focused on delivering only the highest quality and best-tasting spirits, especially those distillers that also incorporate locally-harvested, all-natural ingredients to create an exceptional “farm to glass” experience. We’re confident that Caledonia Spirits will continue to gain national prominence, and we’re thrilled to partner with them to introduce the rest of the country to these great products.” T.J. will join the Caledonia Spirits board subsequent to the FreshTracks investment
Ryan Christiansen, President of Caledonia Spirits, said “We believe in supporting Vermont’s agricultural economy by making our products with the highest-quality, local, raw ingredients. As we grow the company, we remain committed to our founding principles, and to Vermont, a place that makes Barr Hill products so special. FreshTracks was an obvious choice to lead our financing because of their long-term commitment to helping grow Vermont companies.”
Cairn Cross, Founder of FreshTracks Capital, added, “There’s nothing more rewarding to me than when we can invest in an entrepreneurial company that makes a great Vermont product, and to be able to help that company grow in a way that also positively impacts Vermont’s economy.”
About FreshTracks Capital: Founded in 2001, FreshTracks Capital is a Vermont-focused investment fund that uses venture capital to create positive economic and community impacts. Across its four funds, which total more than $47 million, FreshTracks has invested in 30 Vermont-based companies. FreshTracks hosts a number of events for entrepreneurs and investors, including Peak Pitch and Road Pitch. The firm’s General Partners and Managing Directors are Cairn Cross, Lee Bouyea and T.J. Whalen. FreshTracks is actively investing out of its most recent fund, FreshTracks Capital IV.
About Caledonia Spirits: This premier craft distillery is located in Caledonia County, Vermont, and inspired by the views from atop the Barr Hill Nature Preserve. Caledonia Spirits was founded on a vision to support working landscapes and local agriculture by making Barr Hill craft spirits from regional raw materials. Caledonia Spirits is managed by President, Ryan Christiansen, and Chief Financial Officer, Aminta Conant.
Source: Shelburne and Hardwick, VT (December 20, 2017) – FreshTracks Capital