RE: High grade22 Nov 2024 02:05
Https://www.thespiritsbusiness.com/2024/05/pronghorn-invests-in-its-first-japanese-whisky/
Like it or loathe it Pronghorn clearly has a racial agenda(Probably why GUN decided not to name the investor in it's RNS to us), but I guess it ticks all the ethnic diversity boxes for Diageo. Why else would they pledge 200m usd investment over 10 years?
"In 2021, it received investment from Johnnie Walker owner Diageo, which pledged US$200 million based on certain targets within a 10-year plan."
I'd say there is a fair to middling possibility they prove it up for a while then this gets bought out, and the Pronghorn people take their huge profits and apply their 'black owned business portfolio' strategy to another business sector:
"In the future, Pronghorn will eventually break out of spirits, the founders hope, and help other industries use its blueprint to improve diversity in other sectors. For now, the team is working to build an “unimpeachable case study” with the existing population of Black Americans and the spirits industry.
“The reason why we are building open code, and we’re happy to share the methodology, is because we want to be able to attract organisations who want to do the same thing,” Simms explains. “We’re fortunate to have already had meaningful interests from other geographies and other industries. We are working with Quinnipiac [University, in Connecticut] to make sure that we’re documenting everything very closely with scientific rigour."
The other thing to note is that the investment into Shinju is not just money:
"Shinju Spirits produces Shinju Japanese Whisky. Pronghorn will not only provide investment, but will also equip Shinju with ‘supercharging’ tools, mentorship and business resources."
They have 57 spirit brands in their portfolio so I'd expect have already routes to market to sell the whisky in the US.
GLA DYOR
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