Record price: Historic Kentucky distillery Four Roses sold for up to $775M
AI-generated summary reviewed by our newsroom.
- Kirin agreed to sell Four Roses to E&J Gallo for up to $775 million.
- Deal expected to close in Q2 2026; Gallo plans no immediate operational changes.
- Sale reflects Kirin’s shift from spirits toward higher-growth healthcare businesses.
Japanese owner Kirin has agreed to sell Kentucky bourbon brand Four Roses to E&J Gallo Winery for up to $775 million, according to an announcement by Kirin.
The deal is expected to close in the second quarter of this year. The sale price includes a $50 million earn-out if Four Roses hits a performance target, according to Kirin’s announcement.
This appears set a new record for a Kentucky distillery sale price, topping the $581 million Campari paid for Wild Turkey in 2009 and the $420 million Campari paid for a 70% stake in Wilderness Trail in 2022. (Campari is set to acquire the remaining stake in Wilderness trail in 2031 for an additional $180 million, bringing that deal to $600 million.)
It’s a big financial vote of confidence in the state’s signature industry at a time when sales of American spirits are slipping.
“Since our acquisition of Four Roses in 2002, the business has achieved strong growth, primarily in the U.S. market, and contributed to the growth of Kirin’s enterprise value,” the company said in a news release. “Kirin regularly reviews its balance sheet and business portfolio from a medium to long term perspective. After careful consideration as part of this review, Kirin decided to enter into an agreement to transfer the business to Gallo.”
Financial Times reported in October that Kirin was looking to sell Four Roses for potentially $1 billion to pivot from the struggling spirits sector to its healthcare business.
A spokesperson for Gallo told Reuters no changes were planned to Four Roses’ operations, production or distribution. Gallo is privately held by members of the Gallo family.
In a statement, a Gallo spokesperson said: “Gallo has entered into a purchase agreement with Kirin to acquire Four Roses Bourbon. As we move through the regulatory process and await a closing date, we’re incredibly excited about this acquisition and the opportunity to welcome Four Roses into our portfolio. No changes are planned to operations, production, or distribution. We will have no further comment until after closing.”
The historic Four Roses distillery, which underwent a $55 million expansion in 2015, traces to 1888.
The company operates a distillery in Lawrenceburg with a visitors center and has a warehouse and bottling facility, along with another visitors center at Coxs Creek in Nelson County just outside Bardstown.
Kirin said it would not be releasing financial information about Four Roses “due to confidentiality obligations between the parties.”
While Gallo is known primarily for its wines, the company’s portfolio also includes spirits, beer, ready-to-drink option High Noon and more.
Other whiskeys under the brand include Horse Soldier Bourbon, The Dalmore Scotch, and Shackleton Scotch.
Sale comes at pivotal time in Kentucky
Kentucky’s $10.6 billion bourbon industry has been hit hard by slumping demand at home and abroad for American whiskey, in part because of President Trump’s ongoing trade war with Canada.
Major distillers have halted or slowed production, while some financially troubled, smaller distilleries have gone into bankruptcy or are in receivership.
Kirin bought Lawrenceburg-based Four Roses in 2002; the brand had been part of the Seagram portfolio that was sold and broken up in 2000.
The brand had become a bottom-shelf blended light whiskey when then-master distiller Jim Rutledge took it back to its roots as a straight bourbon, where it thrived.
Four Roses has a dedicated fan base in the U.S. and overseas.
Brent Elliott was named master distiller in September 2015 when Rutledge retired. Elliott was named Master Distiller of the Year in 2020.
This story was originally published February 6, 2026 at 8:26 AM.
