Willett to build new distillery in neighboring Springfield (Washington county)

[Kyjd75]

Now inasmuch as I am an unabashed Willett fan, this is BIG news that to me is both good and bad.  Willett plans to invest over 93 million dollars to build a new modern distillery and rickhouses in near Springfield, Ky.  Good because it means they are doing well and obviously would like to have the capacity that a new, modern, distillery would provide.  Bad because it makes me worry that something of the allure of their current campus will be lost, especially at the Bar at Willett, one of our most favorite places to gather for food and drink.  Here is a link to my local newspaper that had an article about the announced expansion:  https://www.thenewsenterprise.com/news/business/willett-distillery-announcement-brings-bourbon-to-dry-county/article_6df2041a-1ece-57b7-827c-0250384321a3.html

[markandrex]

Thanks for the info.  It would be a shame to see them walk away from their history and what they have rebuilt.  
Hopefully the family feels some  connection but they are just about “land- locked” where they are.  Maybe just a satellite facility, let’s hope.  I too would miss the restaurant.

[Richnimrod]

Based upon zero inside information, nor knowledge about it...

And, under the category of 'You heard it here first', I'll give this prediction: Willett will expand capacity, prove the worth of their brands at national volumes, maybe introduce additional brands to the market, and expand a very solid 'insider' reputation to the larger market... then Cash Out.    I hope not, though.

[Richnimrod]

...Additional thought about Willett and my immediately previous post.    Check back in 4-5-years

[flahute]

Hearing from an insider who is well connected to Drew that the new development will be support and that there are plans to expand the visitors center at the original campus (which I've heard before).

I think the Bar at Willett is safe.

[Kyjd75]

On 12/15/2022 at 2:18 AM, flahute said:

Hearing from an insider who is well connected to Drew that the new development will be support and that there are plans to expand the visitors center at the original campus (which I've heard before).

I think the Bar at Willett is safe.

Oh, I so hope you are right.  My wife would be very unhappy if anything happened to the Bar at Willett (we're going there next week).

[Jazz June]

My understanding is that Willett traditionally refused to take on debt to expand faster. I wonder if that has changed or they have the cash for this already. They have almost certainly had large distilling corporations offering to buy them for years and could access significant capital that way, but that hasn't happened so far.

[Kyjd75]

Wondering the same thing.  An expansion of this size ($93 million) almost certainly implies debt of some sort for a small, family owned distillery.  but again, maybe the whiskey business has been so good they have the $ saved up to do this w/o debt.  Regardless, hope Willett remains the iconic, family owned business that it is.