PORTLAND, OR--(Marketwired - Aug 5, 2015) - Eastside Distilling, Inc. (OTCQB: ESDI), a producer of award-winning master-crafted spirits, has been granted selling permit approvals by both the Texas Alcoholic Beverage Commission and the Indiana Alcohol and Tobacco Commission.
In separate approval processes Eastside has secured the necessary official permitting in both Texas and Indiana, giving the company a green light to distribute and sell its full lineup of master crafted spirits in both states.
According to the latest data from Impact Databank, distilled spirits consumption in Texas increased by 2.3% between 2012 and 2013 to a record 12.9 million cases, outpacing the national growth rate of 1.5%. Texas represents 6.2% of the U.S. spirits market, making it the largest state liquor market behind only Florida at 7.8% and California at 11.6%. Indiana was ranked 21st in liquor consumption in 2013 according to the 2014 Liquor Handbook.
"As one of the top three liquor consumption states, Texas represents a major market opportunity for selling our full line of spirits," said Eastside Distilling CEO, Steven Earles. "Indiana also represents a very important market to us as we continue our national rollout campaign. Texas and Indiana are the 9th and 10th states where we will now be distributing our portfolio of spirits and we look forward to actively supporting sales in both of these markets."
About the Texas Alcoholic Beverage Commission
The Texas Alcoholic Beverage Commission (TABC) was created in 1935, and is the state agency that regulates all phases of the alcoholic beverage industry in Texas. The duties of the commission include regulating sales, taxation, importation, manufacturing, transporting, and advertising of alcoholic beverages. The TABC collects in excess of $200 million annually in taxes and fees, which aids in the financing of the state's public schools, local governments, research, human services, and other areas in which state government provides services to all Texans. For more information, visit: www.tabc.state.tx.us.
The Indiana Alcohol and Tobacco Commission
The Indiana Alcohol and Tobacco Commission (ATC) licenses and regulates nearly 10,000 permits for the manufacture, distribution or sale of alcoholic beverages at restaurants, breweries, wineries, grocery stores, hotels, drug stores, package stores, stadiums, civic centers, social and fraternal clubs, horse tracks and river boats throughout Indiana. The commission is responsible for raising revenue of approximately $45 million for the citizens of Indiana. For more information, visit: www.in.gov/atc.
About Eastside Distilling
Eastside Distilling, Inc. (OTCQB: ESDI) has been producing high-quality, master crafted spirits since 2008 and is located in Southeast Portland's Distillery Row. Makers of award winning spirits, the company is unique in the marketplace and is distinguished by its highly decorated product lineup that includes Burnside Bourbon, Below Deck Rums, Portland Potato Vodka and a distinctive line of infused whiskeys. All Eastside spirits are master crafted from natural ingredients for unparalleled quality and taste. The company is publicly traded under the symbol OTCQB: ESDI. For more information visit: www.eastsidedistilling.com or follow the company on: Twitter & Facebook.
Certain matters discussed in this press release may be forward-looking statements. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company's products in the market; the Company's success in obtaining new customers; the Company's success in product development; the Company's ability to execute its business model and strategic plans; the Company's success in integrating acquired entities and assets, and all the risks and related information described from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"), including the financial statements and related information contained in the Company's Annual Report on Form 10-K and interim Quarterly Reports on Form 10-Q. Examples of forward-looking statements in this release may include statements related to our strategic focus, product verticals, anticipated revenue, and profitability. The Company assumes no obligation to update the cautionary information in this release.