Michter's Addresses Shortages with Capacity Investments, Announces New Release of 10 Year Rye

LOUISVILLE,Ky.,April 25,2023 -- As Michter's continues to face inventory constraints due to strong demand,the company is taking steps to expand capacity responsibly. In recent years,Michter's has grown fermentation capacity by adding six 18,000-gallon fermenters made by Louisville-based Vendome Copper & Brass Works. In late 2022,Michter's transitioned its core Shively distillery to a 24/7 operation. Additionally,Michter's has made significant investments in its bottling operations. The company went live with new bottling equipment in January 2023 in order to bring more great whiskey to market.

While these measures are unlikely to satisfy domestic and international demand in the short term,they reflect an ongoing commitment to bring more Michter's to consumers without sacrificing the highest level of quality for which the brand is appreciated.

"We recognize the frustration of some of our supporters as they encounter challenges in finding certain Michter's releases on the shelf. We want our loyal Michter's drinkers to know we are trying to continue to invest in the growth of the brand while maintaining the exceptional level of our whiskeys," commented Andrea Wilson,Michter's Master of Maturation. "We have an over 30-year planning horizon for our whiskeys and use models to plan sales and work hard to focus on staying true to the quality of our whiskeys," she added.

For over 20 years Michter's Executive Vice President Steve Ziegler has been tasked with allocating the Kentucky whiskeys offered by Michter's to the company's distributors and importers. "My job was a lot easier years ago when we felt lucky to sell 50 three bottle packs nationally in a month," observed Ziegler. "We are still quite small compared to many other whiskey companies. Our Master Distiller Dan McKee and our Master of Maturation Andrea Wilson decide when specific barrels are aged to their standards and ready to release,and I do my best to spread that whiskey around to our customers. Unfortunately,what we release simply is not enough to meet demand right now,and we are addressing the shortfall without cutting corners."

While thoughtfully expanding production over the years,Michter's remains determined to maintain its high quality and,if anything,improve it. "Our goal is to make the greatest American whiskey," said Master Distiller Dan McKee. "We would love to be able to offer more of it,but we simply won't do so until the whiskey is ready at the standard our loyal Michter's drinkers expect. I do think that we have some good news to share in that respect,which is why I am so happy to introduce the 2023 release of Michter's 10 Year Rye."

While all types of Michter's continue to be allocated,the distillery is releasing 10 Year Rye for the first time since July 2022. A Kentucky style rye with a good amount of corn and malted barley in the mashbill,Michter's 10 Year Rye has a suggested U.S. retail price of $200 per 750ml bottle.

Said Wilson,Michter's Master of Maturation: "The 10 Year Rye release is elegant,yet full of herbal and honey characters with warm spice resulting in a captivating,rich,smooth drinking experience. I am hopeful that it will bring a smile to everyone who experiences it as we work to bring even more wonderful Michter's to market."

Michter's has a rich and long legacy of offering traditional American whiskeys of exceptional quality. With each of its offerings aged to its peak maturity,Michter's portfolio includes rye,bourbon,sour mash whiskey,and American whiskey. In October 2022,Michter's was named the Most Admired American Whiskey in a global survey. In January 2023,Michter's was named the #1 Top Trending American Whiskey brand by Drinks International in their Annual Brands Report.

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Contact: Joseph J. Magliocco

502-774-2300 x580

jmagliocco@michters.com