Latest news with #distillers
Forbes
16 hours ago
- General
- Forbes
Whiskey Of The Week: I.W. Harper 34 Year Old Bourbon
You won't find many bourbons aged 20 years or longer. 25-year-old bourbons are almost unheard of. And 30-plus year old bourbons are vanishingly rare. The climate in Kentucky, where the vast majority of bourbon is made, is simply not conducive to aging whiskey that long. Unlike Scotland, which basically has cold and crappy weather year-round (and plenty of long-aged whiskies to show for it), Kentucky can have blazingly hot summers and icy winters. Those seasonal variations accelerate barrel aging, pushing the liquid into the wood and pulling it back out. The fact that bourbon must be aged in new charred American oak (Scotch is typically aged in previously used barrels) also means it gets more of the tannins that, when whiskey ages too long, wind up imparting a lot of heat and astringency to the finished product. And yet... many a booze collector mistakenly assumes that older is always better, and is willing to pay a steeper price for a higher number next to the age statement. Which, in general, makes collecting and flipping extra-aged whiskeys more pleasant than drinking them. I still remember the first time I tasted a 30-plus year old bourbon, more than a decade ago. A friend in the industry had a small flask of it and offered me a taste. It was, the saying goes, like licking an oak stave — an oak stave coated with black pepper, no less. 'Yeah, it's pretty terrible,' he admitted. That very bourbon now sells for tens of thousands of dollars on the secondary market, and I wonder if a single one of the (very few) bottles produced has ever been opened and tasted. Say what you will about a bourbon this old, the bottle is gorgeous. Photo courtesy of Diageo When I was recently offered a taste of a 34-year-old I.W. Harper bourbon, distilled in 1989, I didn't say no, but I certainly didn't have high expectations. My skepticism grew when I heard the eleven bottles' worth of whiskey produced were harvested from four damn near completely evaporated barrels. They may have been selected and deemed worthy of bottling by Nicole Austin, longtime distiller/distillery manager and currently Director of American Whiskey Development and Capabilities (DAWDAC for short) for spirits behemoth (and I.W. Harper's parent company) Diageo. But my respect for her didn't change my opinion. I merely wanted to try it for the same reason George Mallory wanted to climb Mount Everest — because it was there. Much to my surprise, I.W. Harper 34 Year Old Bourbon is... drinkable. Not amazing, but better than it has any right to be, given its circumstances. Oaky as hell, yes, but not chewing-tree-bark oaky. I got a ton of menthol and gentian on the palate; my host for the tasting, Zev Glesta of Sotheby's (more on them shortly), tasted 'horseradish and overripe cantaloupe.' At 63.1% ABV, this is no pinky-in-the-air refined sipper — it's more a hold-onto-your-hat, try-to-enjoy-the-ride bourbon. But like I said, it's not bad. And after I left a couple of sips' worth in my glass for an hour or so, it opened up quite a bit. The gentian notes I originally got were more like root beer, and the alcohol's bite was not quite as sharp. The bourbon's provenance is a bit of a mystery — it was aged at the famed Stitzel-Weller distillery, which ceased operations in the early 1990s, but it was not distilled there. Educated guessers think it may be from the Bernheim distillery, but that hasn't been confirmed or denied. The five bottles for sale (I don't know what will become of the other six) were auctioned by Sotheby's — all fetched in excess of $10,000, well above the pre-auction estimates. The project is a collaboration with famed actor/director/philanthropist Colman Domingo, with proceeds going to Native Son, described by Sotheby's as 'a platform dedicated to empowering Black queer excellence through visibility, leadership development and community-building initiatives.' The package, which includes bespoke labels, a silk scarf, and a paper ruff that goes around the neck of the bottle, explores the theme of Black dandyism and is unequivocally stunning. In the end, a 34-year-old bourbon is a curiosity more than a serious sipper. But it's for charity — and for bragging rights, too. Owning one of 11 of damn near anything is pretty cool. Who knows if any of the proud owners of a bottle will ever actually open theirs. But that's what I'm here for — I tasted it so they don't have to. And I'm always happy to provide that sort of assistance.
Yahoo
2 days ago
- Business
- Yahoo
How Kentucky bourbon went from boom to bust
As American as apple pie, Kentucky bourbon was booming after the last Great Recession ended. But as the economy has waned post-Pandemic - and with multiple trade wars on the horizon - the market may be drying up. Although the whiskey, which is traditionally made with corn and aged in charred oak barrels, has roots going all the way back to the 18th Century, it wasn't until 1964 that it became an iconic piece of Americana, when Congress passed a law declaring it a "distinctive product of the United States". But drinking trends come and go, and by the end of the 20th Century, bourbon was considered a bit old fashioned - pun intended. "You often see these kind of generational shifts where people don't want to drink what their parents drink," said Marten Lodewijks, the US president of IWSR, which collects alcoholic beverage data and provides industry analysis. Then, as the world recovered from the 2008 recession, drinkers seemed to rediscover this classic spirit, for a few different reasons. For starters, the price point was good, which made it attractive for bar managers to purchase and incorporate into cocktails and for younger drinkers to sample. Then, in 2013, a law was passed in Kentucky that made it easier for companies to purchase and resell vintage bottles, opening up a high-end collectible market. Add to that the rise in mid-century nostalgia fuelled by shows like Mad Men, and bourbon was due for a full-blown Renaissance. Sales of bourbon grew by 7% worldwide between 2011-2020, which is more than three times the growth of the decade prior, according to industry data company ISWR. Soon, some bourbon distillers were becoming quasi-celebrities, and people were starting to buy up bourbon bottles not to drink, but as an investment. "Everyone was going crazy over the bourbon market, and treating like a commodity, like a stock," recalls Robin Wynne, a general manager and beverage director for Little Sister in Toronto, Canada, who has been a bar manager for about 25 years. "People would go in as a prospector, to flip bottles for two to three times the value." But like most market bubbles, this one was bound to burst. The pandemic's lockdowns tanked bar sales, and inflation has made many would-be bourbon drinkers choose less expensive options - or forgo drinking all together. Amongst Gen-Z, many 20-somethings are drinking less than their older siblings and parents did at their age. Those factors have contributed to declining alcohol sales, with bourbon sales specifically slowing down to just 2% between 2021-2024, according to ISWR data. President Donald Trump's global tariffs have been the final straw. The EU has announced retaliatory tariffs against US goods, including Kentucky bourbon and Californian wine, although implementation has been delayed for six months. Meanwhile, most provinces in Canada have stopped importing American alcoholic beverages in retaliation. The country accounts for about 10% of Kentucky's $9bn (£6.7bn) whiskey and bourbon business. "That's worse than a tariff, because it's literally taking your sales away, completely removing our products from the shelves ... that's a very disproportionate response," Lawson Whiting, the CEO of Brown-Forman, which produces Jack Daniels, Woodford Reserve and Old Forester, said back in March when Canadian provinces announced their plan to stop buying US booze. Trump has said that tariffs will boost made-in-American businesses. But Republican Senator Rand Paul, who represents Kentucky, said the tariffs will hurt local businesses and consumers in his home state. "Well, tariffs are taxes, and when you put a tax on a business, it's always passed through as a cost. So, there will be higher prices," he told ABC's "This Week" in May. These economic pressures have created a growing list of casualties. Liquor giant Diageo, reported that sales of Bulleit, a Kentucky distillery that makes bourbon, rye and whiskey, where down 7.3% this fiscal year. Wild Turkey - a Kentucky bourbon owned by Campari - sales were down 8.1% over the past six months. While big, international brands will likely be able to weather the storm, the sales hit has led to a growing list of casualties. In July, LMD Holdings filed for Chapter 11 bankruptcy - just one month after opening the Luca Mariano Distillery in Danville, Kentucky. This spring, Garrard County Distilling went into receivership. And in January, Jack Daniel's parent company closed a barrel-making plant in Kentucky. The bottom of the barrel has not yet been reached, warned Mr Lodewijks. "I'd be extraordinarily surprised if there weren't more bankruptcies and more consolidation," he said. In part, bourbon has become a victim of its own success - the rise in bourbon sales, and the growth of the premium market, helped fuel many small distilleries. Because bourbon must age in barrels for years, what's on the market today was predicted a few years ago, which means that there is currently an oversupply, which is driving down prices. But while these economic conditions are harsh, Mr Lodewijks said that history has shown how tough times can create innovation. Scotch whisky used to be fairly simple, a blend of middle-of-the road tipples. But when sales declined in the second part of the 20th century, distillers started aging their excess bottles, which helped create the market we have now for premium, aged Scotch whisky. In Canada, where bourbon imports have slowed to a trickle, local distilleries have started experimenting with bourbon-making methods to give Canadian whiskey a similar taste. "The tariff war has really done a positive for the Canadian spirits business," noted Mr Wynne. "We've got lots of grains to make these whiskeys without having to rely on the States." Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
2 days ago
- Business
- Yahoo
How Kentucky bourbon went from boom to bust
As American as apple pie, Kentucky bourbon was booming after the last Great Recession ended. But as the economy has waned post-Pandemic - and with multiple trade wars on the horizon - the market may be drying up. Although the whiskey, which is traditionally made with corn and aged in charred oak barrels, has roots going all the way back to the 18th Century, it wasn't until 1964 that it became an iconic piece of Americana, when Congress passed a law declaring it a "distinctive product of the United States". But drinking trends come and go, and by the end of the 20th Century, bourbon was considered a bit old fashioned - pun intended. "You often see these kind of generational shifts where people don't want to drink what their parents drink," said Marten Lodewijks, the US president of IWSR, which collects alcoholic beverage data and provides industry analysis. Then, as the world recovered from the 2008 recession, drinkers seemed to rediscover this classic spirit, for a few different reasons. For starters, the price point was good, which made it attractive for bar managers to purchase and incorporate into cocktails and for younger drinkers to sample. Then, in 2013, a law was passed in Kentucky that made it easier for companies to purchase and resell vintage bottles, opening up a high-end collectible market. Add to that the rise in mid-century nostalgia fuelled by shows like Mad Men, and bourbon was due for a full-blown Renaissance. Sales of bourbon grew by 7% worldwide between 2011-2020, which is more than three times the growth of the decade prior, according to industry data company ISWR. Soon, some bourbon distillers were becoming quasi-celebrities, and people were starting to buy up bourbon bottles not to drink, but as an investment. "Everyone was going crazy over the bourbon market, and treating like a commodity, like a stock," recalls Robin Wynne, a general manager and beverage director for Little Sister in Toronto, Canada, who has been a bar manager for about 25 years. "People would go in as a prospector, to flip bottles for two to three times the value." But like most market bubbles, this one was bound to burst. The pandemic's lockdowns tanked bar sales, and inflation has made many would-be bourbon drinkers choose less expensive options - or forgo drinking all together. Amongst Gen-Z, many 20-somethings are drinking less than their older siblings and parents did at their age. Those factors have contributed to declining alcohol sales, with bourbon sales specifically slowing down to just 2% between 2021-2024, according to ISWR data. President Donald Trump's global tariffs have been the final straw. The EU has announced retaliatory tariffs against US goods, including Kentucky bourbon and Californian wine, although implementation has been delayed for six months. Meanwhile, most provinces in Canada have stopped importing American alcoholic beverages in retaliation. The country accounts for about 10% of Kentucky's $9bn (£6.7bn) whiskey and bourbon business. "That's worse than a tariff, because it's literally taking your sales away, completely removing our products from the shelves ... that's a very disproportionate response," Lawson Whiting, the CEO of Brown-Forman, which produces Jack Daniels, Woodford Reserve and Old Forester, said back in March when Canadian provinces announced their plan to stop buying US booze. Trump has said that tariffs will boost made-in-American businesses. But Republican Senator Rand Paul, who represents Kentucky, said the tariffs will hurt local businesses and consumers in his home state. "Well, tariffs are taxes, and when you put a tax on a business, it's always passed through as a cost. So, there will be higher prices," he told ABC's "This Week" in May. These economic pressures have created a growing list of casualties. Liquor giant Diageo, reported that sales of Bulleit, a Kentucky distillery that makes bourbon, rye and whiskey, where down 7.3% this fiscal year. Wild Turkey - a Kentucky bourbon owned by Campari - sales were down 8.1% over the past six months. While big, international brands will likely be able to weather the storm, the sales hit has led to a growing list of casualties. In July, LMD Holdings filed for Chapter 11 bankruptcy - just one month after opening the Luca Mariano Distillery in Danville, Kentucky. This spring, Garrard County Distilling went into receivership. And in January, Jack Daniel's parent company closed a barrel-making plant in Kentucky. The bottom of the barrel has not yet been reached, warned Mr Lodewijks. "I'd be extraordinarily surprised if there weren't more bankruptcies and more consolidation," he said. In part, bourbon has become a victim of its own success - the rise in bourbon sales, and the growth of the premium market, helped fuel many small distilleries. Because bourbon must age in barrels for years, what's on the market today was predicted a few years ago, which means that there is currently an oversupply, which is driving down prices. But while these economic conditions are harsh, Mr Lodewijks said that history has shown how tough times can create innovation. Scotch whisky used to be fairly simple, a blend of middle-of-the road tipples. But when sales declined in the second part of the 20th century, distillers started aging their excess bottles, which helped create the market we have now for premium, aged Scotch whisky. In Canada, where bourbon imports have slowed to a trickle, local distilleries have started experimenting with bourbon-making methods to give Canadian whiskey a similar taste. "The tariff war has really done a positive for the Canadian spirits business," noted Mr Wynne. "We've got lots of grains to make these whiskeys without having to rely on the States."
Yahoo
3 days ago
- Business
- Yahoo
How Kentucky bourbon went from boom to bust
As American as apple pie, Kentucky bourbon was booming after the last Great Recession ended. But as the economy has waned post-Pandemic - and with multiple trade wars on the horizon - the market may be drying up. Although the whiskey, which is traditionally made with corn and aged in charred oak barrels, has roots going all the way back to the 18th century, it wasn't until 1964 that it became an iconic piece of Americana, when Congress passed a law declaring it a "distinctive product of the United States". But drinking trends come and go, and by the end of the 20th century, bourbon was considered a bit old fashioned - pun intended. "You often see these kind of generational shifts where people don't want to drink what their parents drink," said Marten Lodewijks, the US president of IWSR, which collects alcoholic beverage data and provides industry analysis. Then, as the world recovered from the 2008 recession, drinkers seemed to rediscover this classic spirit, for a few different reasons. For starters, the price point was good, which made it attractive for bar managers to purchase and incorporate into cocktails and for younger drinkers to sample. Then, in 2013, a law was passed in Kentucky that made it easier for companies to purchase and resell vintage bottles, opening up a high-end collectible market. Add to that the rise in mid-century nostalgia fuelled by shows like Mad Men, and bourbon was due for a full-blown Renaissance. Sales of bourbon grew by 7% worldwide between 2011-2020, which is more than three times the growth of the decade prior, according to industry data company ISWR. Soon, some bourbon distillers were becoming quasi-celebrities, and people were starting to buy up bourbon bottles not to drink, but as an investment. "Everyone was going crazy over the bourbon market, and treating like a commodity, like a stock," recalls Robin Wynne, a general manager and beverage director for Little Sister in Toronto, Canada, who has been a bar manager for about 25 years. "People would go in as a prospector, to flip bottles for two to three times the value." But like most market bubbles, this one was bound to burst. The pandemic's lockdowns tanked bar sales, and inflation has made many would-be bourbon drinkers choose less expensive options - or forgo drinking all together. Amongst Gen-Z, many 20-somethings are drinking less than their older siblings and parents did at their age. Those factors have contributed to declining alcohol sales, with bourbon sales specifically slowing down to just 2% between 2021-2024, according to ISWR data. President Donald Trump's global tariffs have been the final straw. The EU has announced retaliatory tariffs against US goods, including Kentucky bourbon and Californian wine, although implementation has been delayed for six months. Meanwhile, most provinces in Canada have stopped importing American alcoholic beverages in retaliation. The country accounts for about 10% of Kentucky's $9bn (£6.7bn) whiskey and bourbon business. "That's worse than a tariff, because it's literally taking your sales away, completely removing our products from the shelves ... that's a very disproportionate response," Lawson Whiting, the CEO of Brown-Forman, which produces Jack Daniels, Woodford Reserve and Old Forester, said back in March when Canadian provinces announced their plan to stop buying US booze. Trump has said that tariffs will boost made-in-American businesses. But Republican Senator Rand Paul, who represents Kentucky, said the tariffs will hurt local businesses and consumers in his home state. "Well, tariffs are taxes, and when you put a tax on a business, it's always passed through as a cost. So, there will be higher prices," he told ABC's "This Week" in May. These economic pressures have created a growing list of casualties. Liquor giant Diageo, reported that sales of Bulleit, a Kentucky distillery that makes bourbon, rye and whiskey, where down 7.3% this fiscal year. Wild Turkey - a Kentucky bourbon owned by Campari - sales were down 8.1% over the past six months. While big, international brands will likely be able to weather the storm, the sales hit has led to a growing list of casualties. In July, LMD Holdings filed for Chapter 11 bankruptcy - just one month after opening the Luca Mariano Distillery in Danville, Kentucky. This spring, Garrard County Distilling went into receivership. And in January, Jack Daniel's parent company closed a barrel-making plant in Kentucky. The bottom of the barrel has not yet been reached, warned Mr Lodewijks. "I'd be extraordinarily surprised if there weren't more bankruptcies and more consolidation," he said. In part, bourbon has become a victim of its own success - the rise in bourbon sales, and the growth of the premium market, helped fuel many small distilleries. Because bourbon must age in barrels for years, what's on the market today was predicted a few years ago, which means that there is currently an oversupply, which is driving down prices. But while these economic conditions are harsh, Mr Lodewijks said that history has shown how tough times can create innovation. Scotch whiskey used to be fairly simple, a blend of middle-of-the road tipples. But when sales declined in the second part of the 20th centuries, distillers started aging their excess bottles, which helped create the market we have now for premium, aged Scotch whiskey. In Canada, where bourbon imports have slowed to a trickle, local distilleries have started experimenting with bourbon-making methods to give Canadian whiskey a similar taste. "The tariff war has really done a positive for the Canadian spirits business," noted Mr Wynne. "We've got lots of grains to make these whiskeys without having to rely on the States."
BBC News
3 days ago
- Business
- BBC News
How Kentucky bourbon went from boom to bust
As American as apple pie, Kentucky bourbon was booming after the last Great Recession ended. But as the economy has waned post-Pandemic - and with multiple trade wars on the horizon - the market may be drying the whiskey, which is traditionally made with corn and aged in charred oak barrels, has roots going all the way back to the 18th century, it wasn't until 1964 that it became an iconic piece of Americana, when Congress passed a law declaring it a "distinctive product of the United States". But drinking trends come and go, and by the end of the 20th century, bourbon was considered a bit old fashioned - pun intended."You often see these kind of generational shifts where people don't want to drink what their parents drink," said Marten Lodewijks, the US president of IWSR, which collects alcoholic beverage data and provides industry analysis. Then, as the world recovered from the 2008 recession, drinkers seemed to rediscover this classic spirit, for a few different reasons. For starters, the price point was good, which made it attractive for bar managers to purchase and incorporate into cocktails and for younger drinkers to sample. Then, in 2013, a law was passed in Kentucky that made it easier for companies to purchase and resell vintage bottles, opening up a high-end collectible market. Add to that the rise in mid-century nostalgia fuelled by shows like Mad Men, and bourbon was due for a full-blown of bourbon grew by 7% worldwide between 2011-2020, which is more than three times the growth of the decade prior, according to industry data company some bourbon distillers were becoming quasi-celebrities, and people were starting to buy up bourbon bottles not to drink, but as an investment. "Everyone was going crazy over the bourbon market, and treating like a commodity, like a stock," recalls Robin Wynne, a general manager and beverage director for Little Sister in Toronto, Canada, who has been a bar manager for about 25 years."People would go in as a prospector, to flip bottles for two to three times the value." But like most market bubbles, this one was bound to burst. The pandemic's lockdowns tanked bar sales, and inflation has made many would-be bourbon drinkers choose less expensive options - or forgo drinking all together. Amongst Gen-Z, many 20-somethings are drinking less than their older siblings and parents did at their factors have contributed to declining alcohol sales, with bourbon sales specifically slowing down to just 2% between 2021-2024, according to ISWR data. President Donald Trump's global tariffs have been the final straw. The EU has announced retaliatory tariffs against US goods, including Kentucky bourbon and Californian wine, although implementation has been delayed for six most provinces in Canada have stopped importing American alcoholic beverages in retaliation. The country accounts for about 10% of Kentucky's $9bn (£6.7bn) whiskey and bourbon business. "That's worse than a tariff, because it's literally taking your sales away, completely removing our products from the shelves ... that's a very disproportionate response," Lawson Whiting, the CEO of Brown-Forman, which produces Jack Daniels, Woodford Reserve and Old Forester, said back in March when Canadian provinces announced their plan to stop buying US has said that tariffs will boost made-in-American Republican Senator Rand Paul, who represents Kentucky, said the tariffs will hurt local businesses and consumers in his home state."Well, tariffs are taxes, and when you put a tax on a business, it's always passed through as a cost. So, there will be higher prices," he told ABC's "This Week" in May. These economic pressures have created a growing list of casualties. Liquor giant Diageo, reported that sales of Bulleit, a Kentucky distillery that makes bourbon, rye and whiskey, where down 7.3% this fiscal Turkey - a Kentucky bourbon owned by Campari - sales were down 8.1% over the past six big, international brands will likely be able to weather the storm, the sales hit has led to a growing list of casualties. In July, LMD Holdings filed for Chapter 11 bankruptcy - just one month after opening the Luca Mariano Distillery in Danville, spring, Garrard County Distilling went into in January, Jack Daniel's parent company closed a barrel-making plant in Kentucky. The bottom of the barrel has not yet been reached, warned Mr Lodewijks."I'd be extraordinarily surprised if there weren't more bankruptcies and more consolidation," he part, bourbon has become a victim of its own success - the rise in bourbon sales, and the growth of the premium market, helped fuel many small distilleries. Because bourbon must age in barrels for years, what's on the market today was predicted a few years ago, which means that there is currently an oversupply, which is driving down while these economic conditions are harsh, Mr Lodewijks said that history has shown how tough times can create innovation. Scotch whiskey used to be fairly simple, a blend of middle-of-the road tipples. But when sales declined in the second part of the 20th centuries, distillers started aging their excess bottles, which helped create the market we have now for premium, aged Scotch Canada, where bourbon imports have slowed to a trickle, local distilleries have started experimenting with bourbon-making methods to give Canadian whiskey a similar taste."The tariff war has really done a positive for the Canadian spirits business," noted Mr Wynne."We've got lots of grains to make these whiskeys without having to rely on the States."
