Pronghorn, a company dedicated to expanding diversity within the spirits industry, announced Tuesday its most recent capital investment in Hella Cocktail Co. The relationship will help the cocktail brand continue scaling its business.
Hella Cocktail Co.'s co-founder, Jomaree Pinkard will also transition to chairman of Hella Cocktail Co. and assume the position of Pronghorn's CEO and managing director.
"We are excited at the overwhelming support Pronghorn has extended to the Hella Cocktail family," said Tobin Ludwig, co-founder at Hella Cocktail Co., in a statement. "The investment in our shared vision at Hella is a true testament to Pronghorn's mission to elevate brands across the category and create real industry change. We're proud to see our co-founder and chairman, Jomaree Pinkard, bring his work to the next level for the entire spirits industry."
Hella Cocktail Co., a brand of botanically inspired mixers and beverages, is the newest addition to Pronghorn's portfolio of investments, falling on the heels of the recent round of angel investments in Tequila with Friends, Den of Thieves, and Ego Tequila earlier this month.
In addition to the investment, Hella Cocktail Co. will gain access to consulting services from Pronghorn's team of industry experts to accelerate the brand's growth.
"I know I speak for the entire team and myself when I say we are looking forward to welcoming Jomaree to Pronghorn," said Pronghorn co-founder Dia Simms, in a statement. "Jomaree shares the same modern, disruptive approach to building companies as we do at Pronghorn, making him the perfect fit to lead our company and ensure investments in other Black-owned spirits companies are successful."
Pinkard will lead Pronghorn's initiatives to bridge the representation gap in the spirits industry. He will oversee the continuation of Pronghorn's capital investments against the organization's goal of supporting 57 Black-owned brands.
"I am thrilled to be joining Pronghorn. I look forward to helping drive wealth and economic power to the next generation of Black entrepreneurs and business leaders in the beverage alcohol space," said Pinkard, in a statement. "I'm incredibly grateful to be fully supported by my Hella Cocktail Co. co-founders Tobin Ludwig and Eddie Simeon, investors, and new family at Pronghorn who all share the common vision of uplifting minority-founded, owned, and led spirit companies through their various journeys."
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