PRONGHORN DEBUTS SECOND ROUND OF INVESTMENTS IN ANTEEL TEQUILA, COMMON GROUND SPIRITS, DELTA DIRT DISTILLERY, AND OLD HILLSIDE BOURBON COMPANY

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Feb 21, 2023, 09:00 ET

ATLANTA, Feb. 21, 2023 /PRNewswire/ -- This week, Pronghorn has unveiled its newest round of angel investments in four additional Black owned spirits companies: Anteel Tequila, Common Ground Spirits, Delta Dirt Distillery, and Old Hillside Bourbon Company.

PRONGHORN DEBUTS SECOND ROUND OF INVESTMENTS

Pronghorn's capital investment in these brands will be supplemented with access to Pronghorn's supercharging program, efforts from the company to accelerate the business growth of each brand beyond investment. These brands are supported with critical resources like consulting services, direct industry expert access, and more to build a wide array of business levers fundamental to brand growth – from brand marketing to e-commerce and more.

Anteel Tequila is co-founded by Don and Nayana, multiple award-winning Anteel Tequila is a premium sipping Tequila brand. It is a blend of highland and lowland agave, produced out of Casa Maestri Distillery. The dream of owning a Tequila company was inspired by the couple's 2016 summer vacation, as well as Nayana's history of being a two-time cancer survivor. Nayana was on a mission to produce a spirit that she could enjoy responsibly and innovate new ways to include others in partaking and celebrating the spirit while also breaking down stereotypes of what a typical spirits industry leader looks like. Nayana is the first Black woman to co-found/co-own and lead a tequila company.
Common Ground Spirits was founded in 2020 by Julian T. Peebles and Tory E. Brown, coworkers turned lifelong friends, who started their journey together in the tech industry, where both founders shared common ground with each other as men of color. After achieving success in their tech careers, they felt a strong desire to build a legacy, something of their own fruition and creative vision that could be passed onto future generations and other Black-owned businesses. Their overall vision: to make a positive impact on the spirits industry by creating a company that takes pride in its representation and diversity. By mentoring and motivating other Black-owned companies, Tory and Julian believe they can build a more diverse and inclusive spirits industry. Common Ground Spirits has two creative award-winning gin expressions that will tantalize your palate.
Delta Dirt Distillery is a family-owned craft distillery co-founded by Harvey and Donna Williams in the richest farmland in the country - the Arkansas Delta. With ingredients grown on their 4^th generation farm, they've won several highest rated awards for the Sweet Blend sweet potato vodka, i.e. SFWSC, MLSA, ACSA. They recently released Tall Cotton Gin and are eagerly anticipating the release of Deep Roots Bourbon which also includes sweet potatoes in its mash-bill. Delta Dirt is Arkansas' first Black-owned distillery and America's only Black-owned farm distillery.
Old Hillside Bourbon Company was created out of love for bourbon, friendship, and camaraderie. The brand is inspired by the rich history of Black pioneers and disruptors. In its brand logo, Old Hillside pays homage to the Black jockey, Isaac Murphy, who played a pivotal role in popularizing the Kentucky Derby - the home state and birthplace of bourbon. Old Hillside's roots in North Carolina - home to the brilliant contributions of Black Wall Street - grounds the brand's core mission in continuing to celebrate Black entrepreneurship.

"It's an exciting time at Pronghorn," said CEO and Managing Director, Jomaree Pinkard. "We are starting off the year strong ahead of schedule of our 10-year goal and are now welcoming an additional four companies that are led by these successful Black entrepreneurs into our network."

The newest investment round marks the company's milestone of nine total investments in its first year, which surpasses the company's annual investment benchmarks that pave the way towards its overarching 10-year goal of investing in 57 Black owned and led spirits brands. Pronghorn has invested in brands like Ten To One Rum (an award-winning Caribbean rum brand founded by CEO, Marc Farrell and co-owned by GRAMMY-winning artist, Ciara), Ego Tequila (the first Black woman owned tequila in the state of Texas), Den of Thieves Whiskey, Hella Cocktail Co., and Tequila With Friends.

With the company's explosive expansion of capital investments, rapidly developing resource programs, and accumulated support from powerful spirits industry giants, Pronghorn is positioned to transform the state of the industry as we recognize it today. Through Pronghorn's work, the company aims to not only generate $2.4 billion in economic value for the Black community by 2032 through its own efforts, but create a sustainable, replicable model that will produce lasting change in the category, community, and culture.

To learn more about Pronghorn's accelerator program for Black entrepreneurs in the spirits industry, visit www.pronghorn.co/services.

ABOUT PRONGHORN:

Pronghorn is focused on cultivating the next generation of Black entrepreneurs, executive leaders, and founders within the spirits industry. Through sustainable capital investments, incubation, and recruitment programs, Pronghorn removes barriers and grants access to critical resources that empower untapped talent and emerging Black businesses to reach their full potential. The company was co-founded by spirits industry veterans Dia Simms, Erin Harris, and Dan Sanborn. Global beverage alcohol leader, Diageo announced its backing as anchor investor in Pronghorn in 2021. The pronghorn is the fastest North American land mammal and can endure speeds for miles. Inspired by our namesake, Pronghorn believes creating real change is a marathon, not a sprint. For more information visit: www.pronghorn.co.

SOURCE Pronghorn