Heritage Distilling Company Strengthens Senior Leadership Team with Key Appointments to Accelerate Next Stage of Growth and Innovation

Expands Executive Team and Board of Directors with Former Starbucks COO Troy Alstead as a Director and Andrew Varga as a Director and Strategic Consultant – Chief Revenue Officer

GIG HARBOR, Wash., Dec. 19, 2024 (GLOBE NEWSWIRE) — Heritage Distilling Company, Inc. (“HDC” or “Heritage”) (Nasdaq: CASK), a leading craft distiller of innovative premium brands, announced today two key appointments to its executive leadership and Board of Directors. These include Troy Alstead, a seasoned global executive and former COO of Starbucks Corporation, to its Board of Directors, and Andrew Varga, a leading spirits marketer and advertiser with more than four decades in the adult beverage industry, to lead Heritage’s business development initiatives as a strategic consultant and Chief Revenue Officer, as well as to serve as a Director.

Founded by Justin and Jennifer Stiefel and Drew and Sara Kellerman in 2011, HDC has consistently received acclaim from the American Distilling Institute, earning the title of the most-awarded craft distillery for the past decade. HDC’s distinguished lineup of award-winning spirits features an exquisite selection, including Cocoa Bomb Chocolate Whiskey, Stiefel’s Select Whiskey, and Florescence Vodka – a special collaboration with Celebrity Chef Danielle Kartes and Rustic Joyful Food. Other noteworthy additions to the Company’s suite of spirits also includes the Salute Series – a premium line of whiskeys which has raised more than $130,000 to date in support of military and veteran nonprofit partners.

“We are thrilled to have both Troy and Andrew on the Heritage team,” said Justin Stiefel, CEO and co-founder of Heritage Distilling Company. “Troy’s extensive experience in scaling global brands and Andrew’s expertise in marketing and sales provide unparalleled leadership that will help us expand our footprint and deliver our innovative spirits to more consumers. Their appointments reflect our commitment to building a world-class team to support the next stage of our journey as a publicly traded company and a leader in the craft distilling industry.”

Troy Alstead brings over two decades of executive leadership experience to Heritage, having served in multiple senior roles at Starbucks Corporation, including Chief Operating Officer, Chief Financial Officer, and Chief Administrative Officer. During his tenure, he played a critical role in expanding Starbucks’ global footprint, overseeing operations across Europe, the Middle East, Africa, and Greater China. Troy is the founder of Ocean5, a premier event and entertainment venue with a strong focus on sustainability, and Table 47, a restaurant dedicated to serving locally sourced, sustainable cuisine. He also serves on the Board of Directors for Levi Strauss & Co. (NYSE: LEVI), Harley-Davidson, Inc. (NYSE: HOG), Array Technologies Inc. (NASDAQ: ARRY), OYO Global, and RASA Indian Grill.

“Heritage Distilling Company has built an extraordinary reputation for quality, innovation, and community impact,” said Troy Alstead. “I am honored to join the Board and look forward to contributing to Heritage’s growth as it continues to redefine craft distilling while making a positive impact on the communities it serves.”

Andrew Varga brings over 40 years of adult beverage industry experience to Heritage. He was appointed strategic consultant and the Company’s Chief Revenue Officer in April 2023 and recently joined Heritage’s Board of Directors following its IPO. Throughout the course of his career, Andrew has held executive roles at companies such as Brown-Forman Corporation, where he was instrumental in launching brands like Woodford Reserve and Old Forester. He also served as chief marketing officer at Papa John’s International and president of Zimmerman Advertising.

“I’ve spent my career fostering connections between brands and consumers,” said Andrew Varga. “Heritage’s unwavering passion for crafting premium spirits, relentless dedication to quality, and commitment to innovation position the company for remarkable growth. I’m thrilled to join the team during this transformative time and am eager to help propel the Heritage brand to even greater heights.”

Heritage operates two production distilleries and seven tasting rooms across Washington and Oregon, including: Heritage tasting rooms in Gig Harbor, Tumwater, and Roslyn, Washington, and two tasting rooms in Eugene, Oregon on Madison Street and 5th Street; Thinking Tree Spirits in Eugene; and a Heritage tasting room at Angel of the Winds Casino in Arlington, Washington. The Company’s premium spirits are available in select retailers and for direct-to-consumer delivery in 45 states and Washington, D.C., through Liquid Rails. For more information on Heritage Distilling Company, visit heritagedistilling.com.

About Heritage Distilling Company, Inc.

Heritage is among the premier independent craft distilleries in the United States offering a variety of whiskeys, vodkas, gins, rums and ready-to-drink canned cocktails. Heritage has been the most awarded craft distillery in North America by the American Distilling Institute for ten years in a row out of the more than 2,600 craft producers, plus numerous other Best of Class, Double Gold, and Gold medals from multiple national and international spirits competitions. It is one of the largest craft spirits producers on the West Coast based on revenues and is developing a national reach in the U.S. through traditional sales channels (wholesale, on-premises, and e-commerce) and its unique and recently-developed Tribal Beverage Network (“TBN”) sales channel, which is collaborating with Native American tribes to develop Heritage-branded distilleries, brands, and tasting rooms and to develop brands unique to the tribes, to serve patrons of tribal casinos and entertainment venues, creating compelling social and economic benefits for participating tribal communities while allowing the tribes another channel through which to exercise tribal sovereignty.

Forward-Looking Statements

This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “aims,” “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “plans,” “possible,” “potential,” “seeks,” “will,” and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking statements include, without limitation, statements regarding anticipated results or benefits anticipated from Heritage’s executive and Director-level appointments.

Any forward-looking statements in this press release are based on Heritage’s current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risks of expanding sales and revenue due to the addition of new members of the executive team or new directors to the board. These and other risks concerning Heritage’s programs and operations are described in additional detail in its registration statement on Form S-1, which is on file with the SEC. Heritage explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.

Contacts:

Investors
Scott Eckstein
heritage@ksca.com
(212) 896 1210

Media
Patrick Maddox
heritage@kcsa.com
(501) 680 5220