Raising capital has been one of his greatest challenges. Beatrice used his own money—along with some funds from friends and family—to start Barrell. But it immediately became evident that he would need more cash to stay competitive. In 2016, after several rounds of negotiating, Beatrice thought he’d found a great partner. A $3 million private equity injection would help him buy more barrels and double down on his guerrilla marketing strategy of engaging with influencers.
Normandin now admits that the traits that gave rise to those concerns are among Beatrice’s strongest attributes. In fact, Beatrice analyzes every small detail, like studying hundreds of label variations to learn why consumers will pay $20 more if the label is on the lower third of the bottle. Even the name, Barrell, came from weeks of debating various monikers before he landed on it.
“There’s just not fooling Joe,” says Jeff Hopmayer, founder of the Brindiamo Group, a beer and spirits broker. “He will know where something is from and knows what he should pay for it.”
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Bourbon’s Rule Breaker: How Barrell Craft Spirits Upblended The Whiskey IndustryThe winner, Barrell (two Ls, not a typo) Bourbon Batch 011, was the independent bottler’s coming-out party to the world, but the man behind the whiskey, Joe Beatrice, was well known to many of those judges, having pioneered websites for spirits brands.
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