Finding Whitespace – And A $600 Million Brand – In The ‘Wilderness’

Dr. Pat Heist may not be the first rock musician to successfully launch and sell a spirit brand (shoutout to Sammy Hagar), but he could very well be the first to do so with a Ph.D. in plant pathology.

Known as "Dr. Pat" to many, he is the co-founder of Wilderness Trail, a craft whiskey distillery based in Danville, Kentucky, renowned for blending modern scientific innovation with traditional distilling techniques.

In 2012, alongside his long-time business partner Shane Baker, Dr. Pat launched Wilderness Trail, combining their extensive expertise in advising other spirit companies on production and fermentation. Their first product debuted in 2018, and since then, the brand has built a reputation for its exceptional bourbon and rye whiskey.

In a major milestone for the distillery, Italian spirits giant Campari acquired a 70% stake in Wilderness Trail in October 2022, valuing the deal at $420 million, with an option to purchase the remaining 30% in 2031. At that time, the full ownership of the brand was estimated at an impressive $600 million.

In this engaging interview, Dr. Pat offers a deep reflection on his entrepreneurial journey and shares invaluable advice for any aspiring founder, including the pitfall of prioritizing branding over developing a high-quality product and how to strategically enhance a brand's image among key gatekeepers and influencers. Additionally, he discusses the partnership with Campari, offering a behind-the-scenes look at how the collaboration began, and his assessment of the timing and opportunity that led to the investment and eventual acquisition.

Show notes:

0:32: Interview: Dr. Pat Heist, Co-Founder, Wilderness Trail – Speaking from his office in Washington, D.C., Dr. Pat shares his passion for rock music and his current band before discussing the growth of Ferm Solutions, the yeast and enzyme supplier he co-founded with Shane in 2006. Drawing from insights gained by working with over a thousand distilleries, he explains how these experiences helped shape Wilderness Trail, ensuring the distillery’s efficiency and avoiding common pitfalls. Dr. Pat highlights the unique sweet mash process and the industry relationships that set the brand apart, noting how the ability to make quick, decisive moves without bureaucratic delays was a key advantage. He also reflects on the partnership with Campari, emphasizing that it was driven by more than just financial gain, but by shared values and a long-term vision.

Brands in this episode: Wilderness Trail, Rabbit Hole Distillery, Campari