Pronghorn, the spirits incubator backed by Diageo, has selected New England Barrel Co., a US whiskey producer, as the next recipient of its “seed investment” and support.
Established in 2020, New England Barrel Co. is a Boston-centered whiskey label specializing in Bourbon and rye whiskies. The company’s lineup features offerings such as the New England Barrel Company 12 Year Canadian Rye and 6 Year Single Barrel Kentucky Straight Bourbon.
The company procures its liquid from distilleries of varying sizes across the United States. Its primary offerings consist of two core batched Bourbons.
“New England Barrel Company, at its foundation, is about building community through a shared interest in great whiskey. Our mission each day is to craft and distribute outstanding batched and single barrel releases that are affordable and offer them to the public at reasonable prices,” New England Barrel Co. founder James Saunders said.
Founded in 2021 by Dia Simms, Erin Harris, and Dan Sanborn, Pronghorn has the goal of generating $2.4 billion for Black-owned businesses by 2032 through capital investments and incubation. The firm intends to invest in 57 businesses over a ten-year span.
More than half of Pronghorn’s portfolio is comprised of Tequila and whiskey brands. The latest additions include Greenwood Whiskey, Red Hazel Whiskey, TCapri Tequila, and IslandJonVodka, all introduced in March.
“Pronghorn’s unwavering dedication to advancing the entrepreneurial and economic livelihood of Black founders in the space enables us to get closer to reaching our goal of investing in 57 Black-owned brands and producing $2.4bn for the community,” Pronghorn CEO Jomaree Pinkard said.
“In just one year, we’ve invested in 20 Black-owned spirits brands, changing these founders’ lives forever, all while steadily increasing the percentage of Black executives and employees in the overall spirits labour force. We will continue to work towards this mission until the industry reflects the consumers that it serves.”
In January, Pinkard assumed the role of CEO and managing director at Pronghorn following the incubator’s investment in Hella Cocktail Co., a company co-founded by Pinkard himself.