Anavo Technologies Announces $3.6 Million Investment by Blue Hill Group

RALEIGH, N.C., Oct. 19, 2018 /PRNewswire/ -- Anavo Technologies, an intellectual property holding company that identifies and capitalizes on new technologies, announced today a $3.6 million investment in its first spinoff, Next Century Spirits, led by Blue Hill Group, a private equity firm based in Chapel Hill, NC.

The investment will help scale Next Century Spirits, a technology partner to major operators in the distilled spirits market. Using state-of-the-art systems, the company produces spirits for a variety of beverage products, from craft brands to large, bulk blends, and operates a distillery in Durham, NC with a current capacity of approximately 300,000 liters per year, with plans to greatly expand next year.

Blue Hill investor, Matthew Bronfman, will chair the board of Next Century Spirits. A prominent entrepreneur and philanthropist, Bronfman's grandfather and father built Seagram's liquor company.

"I have been most impressed by the quality and consistency of the products produced by Next Century Spirits and the traction that the company has already gained in the industry," said Bronfman.

"We are thrilled to welcome Matthew," said Scott Bolin, Chief Executive Officer of Anavo, "A seasoned businessman and sophisticated investor, his influence will have a tremendous impact on Next Century Spirits as the company transitions from startup to a more mature operation."

About Next Century Spirits

Established in Raleigh, NC in 2018, Next Century Spirits blends traditional distilling techniques and unique finishing technologies to create enhanced spirits. The company's proprietary technology allows traditional distillers to expand their repertoire of flavors and aromas while improving quality, maintaining consistency, and reducing supply chain issues. To learn more visit www.nextcenturyspirits.com.

MEDIA CONTACT:
Helen Bertelli
202-465-1468
[email protected]

SOURCE Anavo Technologies