Dented Brick Distillery is Launching Major Capital Raise for 2020
Raise to Build Production and Brand Awareness
SALT LAKE CITY, UT / ACCESSWIRE / January 7, 2020 / Utah-based craft spirits maker Dented Brick Distillery was founded by Marc Christensen in mid-2016. Dented Brick’s Craft spirits brands are sold in 10 states. It operates a production facility in the South Salt Lake neighborhood of Salt Lake City.
Dented Brick’s Vendome Copper Distillation System
After successfully introducing a new product line in 2019, a label for Golf Hall of Fame Legend Jan Stephenson, Dented Brick enters 2020 initiating a major capital raise to build production and brand awareness. After launching the Jan Stephenson line of tropical flavored rums, Dented Brick added to its already successful product lineup with the introduction of Jan’s Premium Craft Vodka, Gin, and Rum. These Craft brands, Vodka, Gin, and Rum, are now available through Total Wine, as are the flavored rums. These rum are premium, made with real fruit juice, in three flavors, Pineapple, Mango, and Passion Fruit.
Dented Brick’s original product line is also quite a success. The Dented Brick Premium Craft Well Brands are also available through Total Wine, in addition to Walmart, and are sold in all liquor stores in Utah, with more than 600 on-premise accounts. Our Premium line is also in the Utah State liquor system and is selling well.
“Dented Brick plans to make good use of its alliance with Total Wine and Walmart, making sure the marketing and promotion budgets are in place to move as much product of these retail shelves as possible,” according to Marc Christensen, the company’s CEO. “Working with big-box retailers represents a significant opportunity for growth, as it positions us with a distribution channel that was previously unavailable to Dented Brick.”
As of Dec. 31, 2019, the company has raised $2.1 million toward a targeted capital raise of $5 million.
The raise includes a $2 million convertible note secured by real estate assets and FF&E.
The investments will help the company increase its marketing and sales efforts in the 10 states where its Craft spirits are being sold, with a particular emphasis on states where its box store retail partners are located.
“We are going to dig deep and scale sales in our current markets, Florida being our largest, Washington and Nevada the next with huge retail markets for Craft spirits,” Christensen said.
In April 2016, Dented Brick opened its 14,000 square foot production facility in Utah. The new investments will help the company increase its production in 2020 and to pivot into high margin products like aged whiskey.
The company employs 10 people, with 7 in Utah and the rest across its sales territory. Christensen said the company expects to add jobs in 2020.
“There is not a clearly defined number [of jobs] as of now, but we will be adding the necessary resources where we deem them to be appropriate,” he said. “With growth comes additional needs.”
SOURCE: Dented Brick Distillery
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