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Drake's Whiskey Brand is About to Go Public
Venture Capital, Capital Markets, Lifestyle
Are you the biggest Drake fan in the world? Or, have you never listened to a Drake song in your life?
Well, your aptitude with the oeuvre of the Grammy-award winning, platinum selling recording artist really doesn’t matter if you like aged bourbon whiskey – or spirits in general – or are just looking to diversify your portfolio with a little booze equity. Virginia Black, the whiskey brand co-founded by Drake and Brent Hocking, is nearing a public offering in which it will look to raise $30 million.
Here are some financial highlights of the spirit market, according to Virginia Black’s offering information:
Brown spirits lead growth in the U.S. with American whiskey volumes up 6.8% and sales of $3.1 billion signifying an increase of 7.7% in 2016. Notably, Cognac volumes are also up 12.9% over the previous year with revenues totaling $1.5 billion and an increase of 15.3% in 2016.
But, really, you just want a Drake highlight:
Of course, if you’re reading this it’s too late. Or wait, actually the IPO is “expected to commence at the end of the 1st quarter 2018,” so you aren’t too late!
Photo: Virginia Black