Building the world's first federally legal, cannabis-infused alcoholic beverage brand.
SoNo 1420 operates the world's first distillery incorporating cannabis sativa (hemp) in all of its distilled spirits. We have distilled and barreled the equivalent of over 12,000 bottles of bourbon and rye with an estimated retail value of $500K.
* Revenue model: 1) On-premises retail sales from our 6,400 ft2 craft distillery and tourist destination located in South Norwalk, CT; 2) self-distribution to retailers, high-end bars, restaurants, tours, online and memberships; 3) wholesale via out-of-state distributors.
* Management team: Comprised of senior executives from the medical cannabis industry and Diagio, the world's largest distilled spirits producer.
* Exit: Targeting revenues of $5- 10 million in three to five years; sale price of $50-150 million; multiple of 10-15x sales.
In the US, 29 states plus DC have now legalized marijuana causing a decline in alcoholic beverage sales in those markets. Big Alcohol has taken notice and are now carefully examining the cannabis industry. Case in point: Constellation Brands recently paid $198MM for a 9.9% stake in Canopy Growth, a Canadian medical marijuana producer. (Price to sales multiple: 62x)
Unencumbered by the legacy businesses and regulatory shackles that burden Big Alcohol, SoNo 1420 has the freedom to push the cannabis-alcohol envelope. We have spent the last year building a portfolio of super premium spirits brands that do just that. So far we have produced an equivalent of 12,000 bottles of our 1420 Hemped Bourbon and 1420 Hemped Rye, first-of-their-kind whiskeys that use hemp seed in their mash bills worth more than $500K.. Complementing these aged spirits, we have crafted three gins, Sindica Bangtail, Sindica Midnight and Sindica Skysail, each made with a unique blend of flavorful and aromatic terpenes steam distilled from cannabis flowers. These cannabis-derived essential oils are combined with botanicals found in more tradition gins to create spirits unlike any others.