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Security Type
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Convertible Note
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Categories
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Other
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Min Investment
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$8
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Offering Date
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May 07, 2020
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Expected Close Date
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August 05, 2020
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Target Raise
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$20.00K-$500.00K
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Valuation
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$5,470,000
Company Description
Produce, market and sell craft spirits across 42 states in the US and 7 countries in Europe. The portfolio includes Avuá Cachaça (Brazilian sugar cane spirit) launched in 2013, Svöl Aquavit (Scandinavian botanical spirit) launched in 2019, and soon Gagliardo Bitter Radicale (Italian liqueur range).
Perks
$1,000+ for 10% discount on all purchases from Drifter Spirits (not including tax and shipping fees.)
$2,000+ Special invitation to a Post COVID Party in one of our major partner accounts to enjoy cocktails and company together when we all get through this.
$3,000+ 20% discount on all purchases from Drifter Spirits, (not including tax and shipping fees.)
$5,000+ Spend a day in the field with one of our sales team visiting great bars and restaurants - tasting the cocktails and engaging with our bartender community.
$10,000+ Invitation to join our on-line taste panel for new potential partner brands – have your opinion heard and be a part of the future of Drifter
$15,000+ Receive a special release of one of our unique finished, highly allocated aged cachaças utilizing cognac casks.
$25,000+ Spend a day distilling with Svöl Aquavit in Brooklyn NY, including lunch with a friend group and with one of the management team
Key Deal Facts
Strong executive team with experience in brand management at Red Bull, and legal at Goldman Sachs.
Advisory board and investors include SVPs at Pernod Ricard, William Grant; President of Red Bull NA.
2019 Revenue of $1.3m. Lifetime revenue of $4.3m and 2013-2019 10x growth in revenue.
Internationally recognized products: Avuá Cachaca won Double Gold / Best in Category at SF Spirit.
With our second brand (Svol Aquavit), we did in 6 months what took us 2 years to achieve with Avua.
Craft spirits growing at a 24% CAGR and make up more than 5% of total spirits with lots more runway
Many recent exits in the craft sector at 10x multiples. Assuming this we would be valued at $13M+
Vision to build a portfolio of 10 spirits brands that would drive >$10M in revenue by 2025.
Use of Proceeds
If $20,000 is raised:
76% of this capital will be used for working capital to withstand the challenges of our business under COVID epidemic. 20% will go towards purchasing inventory. 4% will go towards the Wefunder intermediary fee.
If $100,000 is raised:
76% of this capital will be used for working capital to withstand the challenges of our business under COVID epidemic. 20% will go towards purchasing inventory. 4% will go towards the Wefunder intermediary fee.
If $500,000 is raised:
40% of this capital will be used for working capital to withstand the challenges of our business under COVID epidemic. 40% will go towards human resources. 16% will go towards marketing (direct to consumer marketing, and innovation). 4% will go towards the Wefunder intermediary fee.
Management Team / Advisory Board Bios
Peter Nevenglosky
President
Leads sales, marketing and innovation for Drifter Spirits. Former brand manager and innovation specialist for Red Bull and Dannon. MBA NYU 2009.
Nathan Whitehouse
CEO
Leads finance, operations and client relations for Drifter Spirits. Former attorney in finance at Goldman Sachs with a JD from George Washington University
Ted Roman
Advisory Board Member
Executive Vice President of Sales for Q Sodas while previously a Senior VP of Sales at William Grant and Pernod Ricard - expert at route to market and distributor management.
