Angel's Envy creator launches Espiritus venture fund
One of the founders of Angel's Envy Bourbon has launched a sales and marketing company in partnership with a US$30m venture fund for spirits brands.
Jay Maltby, who previously also worked for Bacardi, said this week he has launched spirits sales and marketing company The Espiritus Group. Maltby sold Angel's Share Brands, owner of Angel's Envy, to Bacardi last year.
"We've assembled a spirits portfolio all of which are in high-growth categories and share common attributes: artisanship, family ownership, financial stability, high quality and authenticity of story," said Maltby, who is chairman & CEO of Espiritus.
The venture fund will invest $3m to $10m in "high-potential" spirits brands.
The spirits portfolio comprises Blue Nectar Tequila, Corner Creek Reserve Bourbon Whiskey, The Lost Distillery Scottish Whisky Company, Purus Organic Wheat Italian Vodka and Virginia Distillery Company Highland Malt Whisky.
Espiritus has national distribution rights for all of the products in its portfolio and varying levels of equity participation in each.
Shortly after buying Angel's Envy, Bacardi also purchased Mauritius-based Banks rum.
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