Jun 19, 2017
OTC Disclosure & News Service
PORTLAND, OR / ACCESSWIRE / June 19, 2017 / Eastside Distilling, Inc. (OTCQB: ESDID) (OTCQB: ESDI) (“Eastside” or the “Company”), a producer of award-winning craft spirits, announced today that the recent placement of Big Bottom Distilling’s products into Eastside’s existing Oregon retail tasting locations has exceeded expectations. Since launching the products into the tasting locations at the beginning of June 2017, Big Bottom product unit sales numbers are on track to be up by more than 200% over June of last year.
Eastside Distilling acquired a majority stake in Big Bottom Distilling on May 1, 2017. The extensive Big Bottom Distilling product portfolio includes several craft spirits that are highly complementary to Eastside’s product line, including The Ninety-One Gin, Navy Strength Gin (114 proof), Delta Rye (111 proof) rye whiskey, and Calhoun Brothers Aged Rum, among others.
Grover Wickersham, Chairman of Eastside Distilling, said, “We are pleased our acquisition thesis of acquiring a smaller, super-premium brand, distributing it through Eastside’s larger distribution and increasing sales is proving out quickly. Big Bottom’s Ninety-One Gin, in particular, has been especially popular. I expect to see continued success when the resources of the Eastside wholesale sales team are brought to bear in the next phase of our integration of the Big Bottom line.”
“Although the liquor industry has seen tremendous growth in craft spirits as a total percentage,” Mr. Wickersham continued. “Many of the individual firms have limited distributions opportunities and few financial resources. We will continue identifying additional potential acquisition opportunities within the craft industry.”
“We believe there is an opportunity for Eastside Distilling to grow its family of craft spirits producers, while continuing to add great people to our management team, like Travis Schoney, Big Bottom’s Lead Distiller, formerly of High West Distilling.”
“Our biggest problem with the Big Bottom acquisition so far is keeping the products in stock. Travis is working overtime making Ninety One Gin to keep up with demand. It is gratifying to our team that our products inspire this level of passion in customers. I believe the Big Bottom acquisition will be immediately accretive to Eastside’s operating results,” concluded Mr. Wickersham.
About Eastside Distilling
Eastside Distilling, Inc. (OTCQB: ESDI) is located in Southeast Portland’s Distillery Row, and has been producing high-quality, master crafted spirits since 2008. Makers of award winning spirits, the company is unique in the marketplace and distinguished by its highly decorated product lineup that includes Barrel Hitch American Whiskies, Burnside Bourbon, Below Deck Rums, Portland Potato Vodka, and a distinctive line of infused whiskeys. All Eastside spirits are master crafted from natural ingredients for unparalleled quality and taste. The company is publicly traded under the symbol OTCQB: ESDI. For more information, visit: www.eastsidedistilling.com, or follow the company on Twitter and Facebook.
Important Cautions Regarding Forward-Looking Statements
Certain matters discussed in this press release may be forward-looking statements. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company’s products in the market; the Company’s success in obtaining new customers; the Company’s success in product development; the Company’s ability to execute its business model and strategic plans; the Company’s success in integrating acquired entities and assets, and all the risks and related information described from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”), including the financial statements and related information contained in the Company’s Annual Report on Form 10-K and interim Quarterly Reports on Form 10-Q. Examples of forward-looking statements in this release may include statements related to our strategic focus, product verticals, anticipated revenue, and profitability. The Company assumes no obligation to update the cautionary information in this release.
Robert Blum, Joe Diaz or Joe DorameLytham Partners, LLC(602) email@example.com
SOURCE: Eastside Distilling, Inc.
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Jun 19, 2017
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