Vermont Business Magazine Stonecutter Spirits, the award-winning Vermont producer of gin and whiskey, has been acquired by Keith Berg and Matt Berg. The two brothers, who live in New England, intend to keep Stonecutter Spirits based in Vermont. Financial terms were not disclosed. Stonecutter ceased production and closed its restaurant nearly a year ago.
Middlebury-based Stonecutter Spirits announced December 3, 2019, that they would close Highball Social, their bar & restaurant in Burlington, and their tasting room in Middlebury at the end of 2019. The company continued sales to liquor stores, bars, and restaurants throughout Vermont from its reserves. However, it no longer produced its award-winning spirits.
Sivan Cotel, Co-Founder and Director of Operations, said at the time. “The reality we’ve faced is that everywhere you look, craft spirits is an increasingly crowded marketplace. Our reception locally has been incredible, but we’ve never been able to make inroads into other sales areas. Without achieving broader geographic coverage, we just aren’t strong enough to keep operations going."
"We've loved Stonecutter for so long," said Keith Berg, the company's new CEO. "The opportunity to be stewards of Stonecutter's future is an honor, and one that's very exciting for us. We are Stonecutter fans, first and foremost, and we want to grow this tremendous brand so that it can be shared far and wide."
The Berg brothers will move the company to southern Vermont from its current headquarters in Middlebury, and have enlisted Vermont Spirits Distilling Company, in Quechee, Vermont, to handle all production while considering options for a potential future home of the brand.
"It's wonderful that Stonecutter will remain available for our many dedicated fans," said Co-Founder Sivan Cotel. "Having shepherded the company through a complete restructuring over the past year, and against the backdrop of the global pandemic, I'm thrilled to reach a successful acquisition. So many people love Stonecutter Spirits, and we had to find a way for it to survive into the future with an opportunity to grow."
Stonecutter Spirits was co-founded in 2013 by Cotel and Sas Stewart. The company released its signature Single Barrel Gin in summer 2015 and subsequently won Double Gold and Best in Category at the 2016 San Francisco World Spirits Competition. This success was followed with the release of Stonecutter's Heritage Cask Whiskey in summer 2016 to rave reviews and a Gold medal at the New York World Wine and Spirits Competition. Both products have won the prestigious Good Food Award. Under Cotel and Stewart's leadership, the brand earned dedicated fans for its spirits and for its inventive events and cocktail menus.
The company's products are currently available in Vermont and Massachusetts. The Berg brothers hope to grow the brand's presence throughout both states, while also pursuing expansion opportunities into additional markets.
SOURCE MIDDLEBURY, Vt., Nov. 23, 2020 /PRNewswire/ -- Stonecutter Spirits LLC www.stonecutterspirits.com