Friday, May 17, 2024 | Baltimore, MD
Baltimore, MD

Why Kevin Plank sold his majority stake in Sagamore Spirit to an Italian company

September 18, 2023

The sale of Kevin Plank’s Sagamore Spirit to an Italian multinational company has been in the works for years as the Under Armour founder sought to expand the Baltimore-based rye whiskey distillery’s reach across the globe. Plank has been seeking to raise the profile of his oak-barrel-aged whiskey company that was started in 2013 and announced Thursday that Illva Saronno Holding SpA had taken over as majority owner of Sagamore Spirit and would move its North American headquarters to Baltimore from New Jersey.

Article Source: Baltimore Business Journal

The Morning Rundown

We’re staying up to the minute on the issues shaping the future. Join us on the newsletter of choice for Maryland politicos and business leaders. It’s always free to join and never a hassle to leave. See you on the inside.