The Black-Owned Distillery Hits $1.1B Valuation

Uncle Nearest is the fastest-growing American whiskey brand in history, driving a business worth $1.1 billion, according to Forbes and ISWR data.

Uncle Nearest

Black woman-owned distillery Uncle Nearest Premium Whiskey was launched in 2016 by Fawn Weaver and quickly ascended to global recognition.

The company’s rise is a tribute to Nearest Green, the first-known African American master distiller who taught Jack Daniel the secrets of distilling.

Expanding its presence to over 30,000 stores, bars, hotels, and restaurants across 12 countries, the business also has a 432-acre distillery in Shelbyville, Tennessee, and a newly acquired 100-acre property in Cognac, France.

The distillery in Shelbyville includes a history walk, four tasting areas, the world’s longest bar (518 feet), an outdoor music venue, an aging barn, a barbecue restaurant, and a snack shack.

The Fastest-Growing American Whiskey Brand

Weaver avoided traditional venture capital and private equity routes, still securing $220 million through a coalition of individual accredited investors.

Since its launch in 2021, Uncle Nearest has tripled sales and expects $100 million in revenue this year, with 20% estimated net margins.

According to reports of spirits research firm ISWR data, Uncle Nearest is history’s fastest-growing American whiskey brand.

It also drives a business that Forbes conservatively estimates is worth $1.1 billion.

Building Up For Nearest Green’s Descendents 

Weaver maintains control of the business with a 40% stake and 80% voting rights alongside her husband, Keith.

She also has made it clear that she has no exit strategy for Uncle Nearest, and instead of selling, she’s buying and launching.

She revealed to Forbes that since she and her husband have no children, she plans to eventually bequeath the business to Nearest Green’s descendants.

“I’m going to build it large as hell. When I pass it on, I don’t want it to be a $10 billion company. I want it to be a $50 billion company,” she said.

“I am never going to profit on Uncle Nearest. I’ve known it from day one. I’m raising up their family.”