PITTCO MAKES INITIAL INVESTMENT IN THE DISTILLED SPIRITS INDUSTRY

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Nov 08, 2023, 11:00 ET

MEMPHIS, Tenn., Nov. 8, 2023 /PRNewswire/ -- Pittco Management, LLC ("Pittco") is pleased to announce the formation of PDI Spirits, LP ("PDI Spirits") as its investment arm in the distilled spirits industry.

Initially, PDI Spirits will focus on Bourbon aging. The firm's recent purchase of new-fill and two-year-old Kentucky Bourbon is the first in a series of planned acquisitions through which it will build a portfolio across numerous vintages.

"Strong and sustained industry growth, increasing international demand, and the continued emergence of craft distilleries and brands make this an exciting time in the Bourbon space," said Henry Guy, Pittco President and Chief Investment Officer. "By holding barrel inventory during the years-long aging process, capital providers like Pittco play a valuable role for distillers and non-distilling brands alike."

PDI Spirits has engaged Pure Barrel Partners Management as a Bourbon industry advisor and Adams & Reese as its outside counsel on liquor law.

ABOUT PITTCO MANAGEMENT, LLC

Pittco is the single-family office for Joseph R. "Pitt" Hyde III, founder of AutoZone, and his wife, Barbara. Pittco was established over 30 years ago, and provides investment, accounting, tax, and financial services from its headquarters in Memphis, Tennessee.

For more information, please visit: http://www.pittcomanagement.com.

Media Contact:
Pittco Management, LLC
[email protected]
901-685-5455

SOURCE Pittco Management, LLC