Jim Beam halts production at flagship distillery for 2026 amid whiskey market slump

Joe Kernen (Host) 00:06.380

all right america 's largest bourbon maker jim beam is pausing production at its flagship facility in kentucky the distiller is owned by japan suntory said the pause will begin on january first and last the entire year the facility produces about a third of the company 's annual

Joe Kernen (Host) 00:24.020

output in bourbon sales have rapidly declined this year after more than twenty years of expansion in the US the slump is due in part to changing consumer behavior a recent gallup poll found that fifty four percent of americans say that they do drink alcohol that's the lowest

Joe Kernen (Host) 00:42.190

level since tracking began way back in nineteen thirty nine and distillers lost a large market when canada halted imports of american whiskey in response to president trumps tariffs distillers face a unique challenge they're producing whiskey today that won't be consumed until

Joe Kernen (Host) 00:58.310

it's aged for years often more than a decade in barrels and andrew we just i don't think you were here we just had the gentleman there was private equity owns heaven hill and some of the other boutique brands and we pressed him on how's business and then you know i you're always

Joe Kernen (Host) 01:20.190

gonna i mean if if you're in that if you're in the bourbon business you're gonna say oh it's you know you're gonna find ways to look at the bright side but it's tough right now just alcohol in in general and then we could get into you know the the the changing preferences of of

Joe Kernen (Host) 01:36.150

the younger generations might not even include alcohol might include who who knows what cannabis or or or whatever but i've never been a a brown liquor drinker you

Andrew Ross Sorkin (Host) 01:49.040

me neither and clear clear is better i think at best isn't that i can't even do that anymore you know what i mean unless it's clear wine we'll get you a mocktail we'll get you a mocktail