Texas vodka takes off thanks to a $13 million boost: Say hello to the new drink mecca?
Deep Eddy Vodka is on a path to nationwide popularity, and the Austin-based company just landed $13 million in financing to continue its growth.
The funding will be used in part to finish a new distillery and tasting room located in the Hill Country near Dripping Springs. The new facility, which is set to start production at the end of this month, will have the capacity to crank out more than two million cases of vodka each year. (Deep Eddy plans to continue its North Austin operations as well.)
A tasting room grand opening is planned in October. The space, which will reflect the Deep Eddy vibe, will feature indoor and outdoor areas to sip vodka cocktails and listen to live music. With this new space, Deep Eddy enters a neighborhood that is quickly becoming a beverage mecca. Jester King Brewery, Argus Cidery, Revolution Spirits distillery and the new Treaty Oak Distillery are all located nearby.
With this new space, Deep Eddy enters a neighborhood that is quickly becoming a beverage mecca.
In addition, the investment will let Deep Eddy grow its staff. "We have 58 employees nationwide working at the distillery, in our corporate office in Austin and in marketing and sales," says Eric Dopkins, CEO. "We need personnel in every state to expand our marketing and awareness of the brand. We plan to add four additional positions, but may add more."
Deep Eddy is no stranger to growth. Since it was founded in 2010, the company has been growing at a phenomenal pace. "We have had sales north of 250 percent year to date and we expect August to be record breaking," Dopkins says.
"Every item we make, including the Deep Eddy Sweet Tea, our straight vodka and Ruby Red are all doing well. Our Cranberry-infused vodka that we introduced earlier this year is already the number one selling cranberry flavored vodka and our Ruby Red is the number one selling grapefruit flavored vodka. Our growth is fueled by consumers trying our vodka and telling their friends about it."
Deep Eddy Vodka has a few more tricks up its sleeve, too. The company will introduce a new flavored vodka by the first of the year and plans to let customers try the new flavor at the distillery's tasting room before it's available in stores.