Discover the inspiring journey of Fawn Weaver and her journey to create Uncle Nearest, the whiskey unicorn worth US$1.1 billion and honoring the memory of Nearest Green.
The origin of the whiskey unicorn: the beginning of Uncle Nearest
Fawn Weaver transformed Uncle Nearest into one of the most prestigious and valuable whiskey brands in the world. She founded the distillery in honor of Nearest Green, the first master distiller of Jack Daniel’s. The distillery is a tribute to the freedoms that Green and his generations did not have.
In Shelbyville, Tennessee, the distillery stands out not only for its whiskey production. It also offers a vast 185-hectare theme park. So, this complex includes four tasting areas, a 160-foot bar, outdoor music venues, a steakhouse, and more. This entire complex competes directly with the famous Jack Daniel’s distillery, which attracts 300,000 visitors annually. Uncle Nearest provides a complete experience, mixing history, entertainment and the production of exceptional whiskey.
The inspiration behind the brand
Fawn Weaver created Uncle Nearest to celebrate Nearest Green. Its history has been neglected for decades. Weaver firmly believes that business ownership is essential, especially for the black community.
“Historically, we black people rent a lot but own almost nothing,” says Weaver. She highlights the importance of building something of your own.
Since its debut in 2017, Uncle Nearest has stood out in the spirits market. Thus, the brand has tripled its sales since 2021 and expects revenue of US$100 million this year. Uncle Nearest is recognized as the fastest growing American whiskey brand in history. This success is a testament to the quality of the product and Weaver’s strategic vision. She has managed to capture the essence of Tennessee whiskey tradition while introducing innovation and inclusivity.
Ownership structure and investments
Weaver avoided venture capital and private equity. She preferred individual investors. With 163 investors, none of them own more than 2.3% of the company. This helps Weaver maintain control. She owns 40% of Uncle Nearest, but holds 80% of the voting rights when combined with her husband, Keith.
Despite having $106 million in bank debt, Weaver’s decision to avoid institutional investors did not deter the market. On the contrary, it attracted notable investors, such as billionaire Byron Trott. He praises Weaver’s leadership and resilience. This decentralized approach allowed Weaver to maintain the essence of his brand. This way, she avoids the pressures that often come with large institutional investors.
A legacy of ownership
Fawn Weaver built more than a distillery. She became one of the largest black landowners in Tennessee. In addition to the Uncle Nearest property, it owns another 148 hectares in the region. It also owns part of downtown Shelbyville, including a 3,500-acre former cotton farm.
Weaver grew up in a strict Christian family. She faced many challenges, including periods of homelessness and suicide attempts. However, she found her purpose and built an empire. His story of overcoming inspires many. She began her career in public relations, running a special events agency. After opening his own company, he faced difficulties due to excessive hiring. Once married, she spent two decades in government affairs at Sony. So, she started investing in residential real estate in Southern California with her husband.
The future of the whiskey unicorn
Weaver is determined to expand her empire. It plans to buy more land and invest in new spirits brands. It recently acquired the French estate Domaine Saint Martin, aiming to produce cognac. Additionally, Weaver is investing in brands owned by Black or women entrepreneurs. This increases diversity in the spirits sector.
She is committed to building Uncle Nearest for the long term. His vision includes not only growing the brand, but also creating a lasting legacy for Nearest Green’s descendants. Weaver is already funding scholarships for them, in hopes that family leaders will emerge to continue their mission. “I’m going to build it as big as I can. When I pass it along, I don’t want it to be a $10 billion company. I want it to be a $50 billion company,” says Weaver. “I will never profit from Uncle Nearest. I’ve known that since day one because I’m raising his family.”
Impact and legacy
The story of Fawn Weaver and Uncle Nearest is an example of Green’s perseverance, innovation, and commitment to fair recognition. His impact on the world of whiskey is profound, and his legacy is just beginning to be written. Weaver didn’t just create a whiskey unicorn, but also a platform to highlight overlooked stories. She promotes inclusion and ownership in the black community.
Uncle Nearest is not just a distillery. It is a symbol of resilience and innovation. With her ownership and inclusion-focused approach, Fawn Weaver is redefining the spirits market. Thus, it creates a lasting impact. His journey proves that, with vision and determination, it is possible to transform challenges into opportunities. She is creating a legacy that inspires future generations.
( fonte: bruna oliveira/digital agro )
