Sazerac Acquires Garrard County Distilling Co. Debt, Secures Bourbon's Future

The New Orleans-based spirits giant takes control of the Kentucky distillery through a $27 million debt acquisition.

Published on Mar. 10, 2026

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The Garrard County Distillery in Lancaster, Kentucky, has experienced a tumultuous short history, marked by initial promise, a swift change in leadership, and reports of financial difficulties. Now, Sazerac, the New Orleans-based spirits giant behind Buffalo Trace, has acquired a significant stake in the distillery through a $27 million debt acquisition from the primary lender, Trust Bank.

Why it matters

This acquisition highlights the risks and challenges associated with new distillery ventures in the rapidly growing bourbon industry. It also raises questions about Sazerac's plans for the facility, which has the capacity to produce up to 150,000 barrels annually and is equipped for high-rye and wheated bourbon production.

The details

Garrard County Distillery first gained attention in early 2024 with the announcement of its opening and the appointment of Lisa Wicker as its Master Distiller. Wicker's tenure was remarkably brief, lasting only 11 days. Further complicating matters, reports emerged in late 2024 indicating that Garrard County Distilling Co. was facing financial challenges, ultimately leading to a restructuring involving its primary lender. Sazerac, through its subsidiary Tom Collins Distilling LLC, acquired the $27 million in debt owed by the distillery to Trust Bank, effectively giving the company control of the facility.

  • Garrard County Distillery first gained attention in early 2024.
  • Lisa Wicker was appointed as Master Distiller in early 2024, but her tenure lasted only 11 days.
  • Reports of Garrard County Distilling Co.'s financial challenges emerged in late 2024.
  • Sazerac's subsidiary, Tom Collins Distilling LLC, acquired the $27 million in debt owed by the distillery to Trust Bank in 2026.

The players

Sazerac

A New Orleans-based spirits giant behind brands like Buffalo Trace, Eagle Rare, and Pappy Van Winkle.

Garrard County Distilling Co.

A distillery located in Lancaster, Kentucky, that has faced financial difficulties and leadership changes.

Lisa Wicker

A veteran distiller with experience at distilleries like Widow Jane and Limestone Branch, who was briefly appointed as the Master Distiller at Garrard County Distillery.

Trust Bank

The primary lender to Garrard County Distilling Co., whose $27 million in debt was acquired by Sazerac's subsidiary.

Ray Franklin

The founder of Garrard County Distillery, which was designed for high-rye and wheated bourbon production.

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What’s next

Sazerac has not yet announced its plans for the Garrard County Distillery, but industry observers will be closely watching for any updates on the company's strategy for the facility.

The takeaway

This acquisition highlights the risks and challenges associated with new distillery ventures in the rapidly growing bourbon industry, as well as the potential for established players like Sazerac to capitalize on opportunities to expand their production capacity and product offerings.