RALEIGH, N.C., Oct. 19, 2018 /PRNewswire/ -- Anavo Technologies,
an intellectual property holding company that identifies and
capitalizes on new technologies, announced today a $3.6 million investment in its first spinoff,
Next Century Spirits, led by Blue Hill Group, a private equity firm
based in Chapel Hill, NC.
The investment will help scale Next Century Spirits, a
technology partner to major operators in the distilled spirits
market. Using state-of-the-art systems, the company produces
spirits for a variety of beverage products, from craft brands to
large, bulk blends, and operates a distillery in Durham, NC with a current capacity of
approximately 300,000 liters per year, with plans to greatly expand
next year.
Blue Hill investor, Matthew
Bronfman, will chair the board of Next Century Spirits. A
prominent entrepreneur and philanthropist, Bronfman's grandfather
and father built Seagram's liquor company.
"I have been most impressed by the quality and consistency of
the products produced by Next Century Spirits and the traction that
the company has already gained in the industry," said Bronfman.
"We are thrilled to welcome Matthew," said Scott Bolin, Chief Executive Officer of Anavo,
"A seasoned businessman and sophisticated investor, his influence
will have a tremendous impact on Next Century Spirits as the
company transitions from startup to a more mature operation."
About Next Century Spirits
Established in Raleigh, NC in
2018, Next Century Spirits blends traditional distilling techniques
and unique finishing technologies to create enhanced spirits. The
company's proprietary technology allows traditional distillers to
expand their repertoire of flavors and aromas while improving
quality, maintaining consistency, and reducing supply chain issues.
To learn more visit www.nextcenturyspirits.com.
MEDIA CONTACT:
Helen
Bertelli
202-465-1468
helen@benecomms.io
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SOURCE Anavo Technologies