The deal, structured with an initial payment and a potential earn-out of up to $500,000, aims to leverage ASC’s existing debt facilities for funding.

Founded in 2011 by Jason Johnstone-Yellin and Joshua Hatton, Single Cask Nation has established itself as a curator and bottler of rare single cask and limited edition whiskies, with a substantial market base of over 10,000 whisky enthusiasts globally, with the US being its primary market.

The acquisition aligns with ASC’s ambition to diversify its portfolio in the US while capitalising on the growing American Whiskey market. ASC, already owning the Scotch Malt Whisky Society (SMWS), emphasises that the addition of Single Cask Nation is both complementary and incremental to its existing business structure.

Noteworthy financial details include the upfront payment, with the potential earn-out contingent on meeting key performance criteria in 2024 and 2025. The founders of Single Cask Nation will remain with the company, leading operations from their US offices, supported by industry veteran Steve Hawley.

SMWS will maintain its focus on delivering Scotch Malt whisky, while Single Cask Nation will shift its focus towards American Whiskey, ensuring a diversified and targeted approach to the market. ASC remains optimistic about its financial performance, with full-year results for 2023 in line with the guidance issued in December 2023.

Andrew Dane, CEO of The Artisanal Spirits Company, said: “We are thrilled to welcome Single Cask Nation to the Artisanal Spirits Company, alongside the Scotch Malt Whisky Society and J.G. Thomson.

“This acquisition aligns with our ambition to selectively expand the portfolio in the significant and growing US market, while staying true to our core values of captivating a global community of whisky adventurers with rare and exceptional bottlings.

“The addition of Single Cask Nation will further our mission to create a highly profitable and cash generative premium global business. This is also very much an investment in Jason and Joshua themselves who have cultivated a global following and stellar reputation as thought leaders in the world of whisky.

“Together with Steve they will bring a tremendous wealth of knowledge, experience and passion to our business and we’re looking forward to welcoming them and their followers into the wider Group.”