Black businesswoman Fawn Weaver’s Uncle Nearest acquires organic spirits company

Mfonobong Nsehe -

Key Points:

  • Black-owned whiskey giant Uncle Nearest expands its portfolio by acquiring Square One Organic Spirits, marking its first venture outside whiskey.
  • This move aligns with Fawn Weaver’s vision for a diverse spirits conglomerate, following a near-$1-billion valuation and 2023 acquisition of a Cognac estate.
  • Square One retains its leadership and farm-to-glass focus, while Uncle Nearest leverages its network to push Square One’s organic and gluten-free options.

Uncle Nearest, the fastest-growing American whiskey brand founded by Black businesswoman and serial entrepreneur Fawn Weaver, has acquired Square One Organic Spirits. The acquisition, announced as Square One celebrates its 20th anniversary, marks a significant expansion of Uncle Nearest’s portfolio beyond whiskey.

Building a diverse spirits conglomerate

This acquisition, which underscores CEO Fawn Weaver’s vision of establishing a diverse spirits conglomerate, follows Uncle Nearest’s near $1-billion valuation and its 2023 purchase of Domaine Saint Martin, a historic Cognac estate.

“Our vision has always been for Uncle Nearest to become more than just a brand, but the first spirits conglomerate built by a woman or person of color,” Weaver said in a statement.

Square One, founded in 2004 by Allison Evanow, is known for its USDA-certified organic vodka, the first of its kind in the U.S. The brand will maintain its farm-to-glass production commitment under Uncle Nearest’s umbrella, introducing new organic and gluten-free options.

Strategic integration and future growth

Financial terms of the deal, funded by Uncle Nearest’s Series E funding round, were not disclosed. However, Allison Evanow will continue to lead Square One to ensure a smooth transition and uphold the brand’s core principles, with The Formulation Group handling the rebranding.

Evanow expressed optimism about the acquisition, stating, “Uncle Nearest brings the robust sales and distribution network we need to reach our full potential, all while preserving our independent spirit and world-class quality.”

Uncle Nearest claims top spot for bourbon and whiskey awards

Under Fawn Weaver’s leadership, Uncle Nearest has become the most-acclaimed Bourbon and American whiskey company for five straight years (2019-2023). The brand boasts a presence in more than 45,000 venues across the U.S. and 12 countries.

Meanwhile, Weaver has propelled Uncle Nearest to the seventh-most visited distillery globally in just four years. However, Square One, which recently celebrated its 20th anniversary, boasts lifetime sales exceeding $22 million with nearly 200,000 cases sold.