Stoli Group and Kentucky Owl Bourbon File for Chapter 11 Bankruptcy – See Their Top 7 Creditors

Stoli and Kentucky Owl File for Chapter 11 Bankruptcy - November 27, 2024

Stoli Group (USA), LLC and Kentucky Owl, LLC filed for voluntary Chapter 11 bankruptcy with the Northern District of Texas court on November 27, 2024. The filing was signed by Stoli Group President and Global Chief Executive Officer Chris Coldwell.

Stroli Group USA was established in the late 1990’s as part of the SPI Group. In addition to Stoli Vodka and Kentucky Owl bourbon, Stoli Group owns a portfolio of premium spirits, wines and non-alcoholic beverages. Headquartered in Luxembourg, the company uses its own and affiliated production facilities in Argentina, Latvia, Spain, Mexico, UK and the United States which have a rich heritage dating back to the early part of the last century.

What Brands Fall under Stoli Group?

Known primarily for its flagship brand, Stoli® Vodka, the company appeals to luxury on-premise global consumers. Its brands include elit® Vodka, Bayou® Rum, Kentucky Owl®, Wiseman®, Cenote® Tequila, Se Busca® Mezcal, Tulchan® Gin. The brands cover more than 176 markets worldwide and collaborates with a network of 300 distributors.

It’s wine portfolio, Stoli Group’s Tenute del Mondo division includes labels such as Achaval Ferrer® (Argentina) and Arínzano® (Spain), while boasting a joint venture in Super- Tuscan Ornellaia, Masseto, Luce, and CastelGiocondo, under the Tenute Di Toscana Company. 2021 marked a significant milestone as Tenute del Mondo purchased Nouvel, a 50% shareholder in Chateau Miraval and its family of brands, including Miraval®, Muse®, Studio®, and Fleur de Miraval®.

Stoli Group Chapter 11 Liabilities and Assets Snapshot

According to the filing Stoli Group has unsecured claims with between 200-999 creditors, with estimated liabilities of between $50,000,001 – $100,000,000 and estimated assets of $100,000,001 – $500 million.

Stoli Groups top seven unsecured claims and are not insiders include Motive Marketing Group for $884,860, Colangelo & Partners Public Relations for $797,492, Republic National Distributing Company for 770,948, Social Chain Germany GmbH for 737,335, Achaval Ferrer S.A. for $649,854, Los Angeles Dodgers for $539,583, and The Belt’s Corporation for $506,625.

Kentucky Owl Bourbon Chapter 11 Liabilities and Assets Snapshot

Kentucky Owl Kentucky Straight Bourbon Whiskey, Established 1879 - Old and New

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According to the filing Kentucky Owl has unsecured claims with between 1-49 creditors, with estimated liabilities of between $50,000,001 – $100,000,000 and estimated assets of $50,000,001 – $100 million.

Kentucky Owl’s top seven unsecured claims and are not insiders include Bardstown Bourbon Company $5,512,716, TAPI $101,478, Shapiro Goldstein Moses and Artuso $50,000, Brindiamo Group $45,069, Stekiarna Hrastnik d.o.o. $30,010, Impaks Ltd $19,657, and Corporation Service Company $323.

When Did Stoli Get into the Bourbon Business?

Kentucky Owl Bourbon - Kentucky Owl Park Rendering — Kentucky Owl Park rendering.

Kentucky Owl Bourbon - Kentucky Owl Park Aerial Photo, Bardstown, Kentucky — Kentucky Owl Park rendering.

Stoli Group got into the bourbon business in January 2017 when they purchased the Kentucky Owl brand from 5th Generation Bourbon Maker Dixon Dedman. The brand was founded in 1879 by C.M. Dedman who produced bourbon until his distillery was shut down in 1916 as the nation approached Prohibition.

Dixon Dedman restarted the Kentucky Owl bourbon brand as a non-distiller producer (NDP) in 2014. As the small but notable brand, Stoli, wanting to get on the bourbon band wagon, purchased the young brand for an undisclosed amount in 2017. Dixon Dedman left the company in May 2021. (Will he buy it back? Time will tell.)

A year and a half later, Stoli Group announced a $150 million investment to build Kentucky Owl Park in The Bourbon Capital of the World, Bardstown, Kentucky. They acquired a 420-acre stone quarry that would be the base of their new distillery and visitor center. Plans included a 21st century design with pyramid shaped buildings, a train station, entertainment venue, visitor accommodations and more.