Cardinal Spirits

Beloved, award-winning craft spirits & canned cocktails from $6M ARR distillery▲

Last Funded September 2023


raised from 339 investors


Case sales grew from 8k in 2017 to 127k in 2022 ($6.3M annual revenue, $32M in cumulative revenue).
Products sold in 8,400 retail outlets (up from 1,000 in 2018). Including Walmart, Kroger, CVS, etc.
Gross margin has improved from 13% in 2019, to 39% in 2022.
Media darlings: Featured in the Wall Street Journal and New York Times.
Co-founder lobbied for law change that opened the door for 50+ craft distilleries now in Indiana.
Successful distillery tasting room with 4.5 stars on Yelp and 4.6 stars on Google.
Voted USA Today's Readers' Choice in 2019, 2020, 2021, and 2022.
Over 35k followers across social media, and 10k newsletter subscribers with 45% open rate.

Our Team

Our investor deck


Forward-looking projections cannot be guaranteed.

Forward-looking projections cannot be guaranteed.

Only $1.235M of the $2M will be solicited through Wefunder.

Forward-looking projections cannot be guaranteed.

Forward-looking projections cannot be guaranteed.

Forward-looking projections cannot be guaranteed.


  • Craft Spirit Valuations Start At $1,000 per case: Forbes 
Note that Cardinal currently sells 32,000 cases/year
  • High West Purchased by Constellation for $160,000,000 ($2,285 per case) - WSJ 
  • Casamigos Purchased by Diageo for $1,000,000,000 ($58,000 per case) - Reuters 
  • Bulldog Purchased by Campari for $58,000,000 (5.7x revenue) - PR Newswire 
  • Distill Ventures and other craft spirit incubators: SevenFifty 
  • Big spirit companies invest in craft brands: Bevnet 
  • RTD Cocktail Growth: SevenFifty 
  • Apax Partners acquires controlling interest in Ole Smoky Distillery: PE Hub
  • Heaven Hill Brands acquires Samson & Surrey: KY Bourbon Trail
  • Pritzker Private Capital acquires Bardstown Bourbon Co: BusinessWire
  • Bardstown Bourbon Co. to acquire Green River Spirits Co: Distillery Trail
  • Diageo acquires Australian cold brew liqueur Mr. Black.: Beverage Daily
  • Diageo acquires Texas-based Balcones Distilling: Forbes
  • Milestone Brands acquires Canadian distillery Victoria Distillers 1908 Gin: PR Newswire
  • Campari acquires 15% interest in Howler Head Banana Bourbon: Shanken News
  • Campari acquires French aperitif brand Picon for $125 million: Reuters
  • Campari acquires stake in Wilderness Trail Distillery for $420 million: VinePair
  • Brown-Forman acquires Gin Mare brands from Vantguard: Spirits Business
  • Pernod "significantly increases" its minority stake in Sovereign Brands: Beverage Journal
  • Deutsch Family Wine & Spirits acquires stake in Negra Tequila: PR Newswire
  • Constellation Brands fully acquires Austin Cocktails: Beverage Daily