On Tuesday, Still Austin Whiskey Co. announced a $20 million working capital deal with Ferovinum Inc. (FERO) to fund continued barrel production. The deal comes following the Austin, Texas distillery depleting 100,542 cases in 2025 — a 45% increase year over year — despite industry-wide headwinds.
Still Austin shipped 100,924 cases into distribution in the same period, a near-perfect ship-to-depletion ratio that points to consistent consumer demand. The company says 2025 marks its strongest performance since founding in 2015.
The results come as the broader American whiskey category faces slowing growth. Huge names from Beam to Diageo have announced production freezes in recent months…