The Scottish Artisanal Spirits Company (ASC) has acquired US-based Single Cask Nation, enhancing its presence in the international premium whisky market. ASC, an Edinburgh-based distiller known for single-cask and limited-edition whiskies and owner of The Scotch Malt Whisky Society (SMWS), aims to grow globally by expanding its portfolio. The acquisition includes all assets and operations of Single Cask Nation, aligning with ASC's goal to strengthen its footprint in the world's largest premium whisky market, the US.
Single Cask Nation began as a social fellowship or membership society organized around the right to purchase rare, fine single cask whiskies under the Single Cask Nation label. In 2017, J&J Spirits launched a line of Single Cask Nation products that was available on store shelves and good whisk(e)y bars and complemented the ongoing online-only line of Single Cask Nation products.
ASC plans to make an upfront payment with a potential earn-out of up to USD500,000 based on 2024 and 2025 performance criteria. The move is expected to boost ASC's earnings per share within the first year of ownership. Single Cask Nation, known for curating rare whiskies, will continue its focus on American whisky, while ASC's primary branch, SMWS, will prioritize Scotch Malts.
ASC CEO Andrew Dane stated, "This acquisition aligns with our ambition to selectively expand the portfolio in the significant and growing US market." The founders of Single Cask Nation, Jason Johnstone-Yellin and Joshua Hatton, will continue to lead the business from their US offices, maintaining the brand's independence within the ASC group.
Jason Johnstone-Yellin expressed enthusiasm about joining ASC, noting that The Scotch Malt Whisky Society had inspired them to start an independent bottling business. The acquisition allows Single Cask Nation to be a sister brand to SMWS. The move aligns with ASC's mission to captivate a global community of whisky enthusiasts with rare and exceptional bottlings. Steve Hawley, a veteran in the whisky industry, has joined ASC's team and will provide strategic and tactical support to Single Cask Nation.