Monday, December 22, 2025

TRUMPENOMICS TOO

Iconic American Bourbon Brand is Shuttering its Trademark Distillery in 2026


Men's Journal · Photo by Adam Bouse on Unsplash

Alex Reimer
Sun, December 21, 2025 
Men's Journal 

Jim Beam is putting its trademark distillery on ice.

The iconic American bourbon brand announced it will stop producing whiskey at its facility in Clermont, Kentucky on January 1. The pause will last for the entirety of 2026.

“We are always assessing production levels to best meet consumer demand and recently met with our team to discuss our volumes for 2026," the company said in a statement, per the Lexington Herald Leader. “We’ve shared with our teams that while we will continue to distill at our (Freddie Booker Noe) craft distillery in Clermont and at our larger Booker Noe distillery in Boston, we plan to pause distillation at our main distillery on the James B. Beam campus for 2026 while we take the opportunity to invest in site enhancements."

The visitor center for those who pass through on the famed Kentucky Bourbon Trail.

Why is Jim Beam Stopping Production?


It's been a rough year for Kentucky's $9 billion whiskey industry. Tariffs and boycotts are hitting business hard: Canada hasn't bought any American-manufactured spirits since March in response to President Donald Trump's ongoing tariff regime. Overall, U.S. whiskey sales to Canada are down 60%.

As a result, the bourbon industry has halted production by more than 55 million proof-gallons, representing a 28% downshift.

Though the Jim Beam's main distillery is shuttering operations for next year, layoffs haven't been announced--at least not yet. Jim Beam employs nearly 1,500 people in Kentucky.

Other whiskey companies, such as Jack Daniel's, have laid off employees as they pause production, too.

What's the Reaction?


Whiskey enthusiasts and concerned consumers are placing blame on Trump's tariffs. Canada is a major export market for American spirits, serving as the second-largest behind the European Union.

"Trump’s tariffs hurt Kentucky. There is no doubt about it," posted Kentucky Democratic Senate candidate Amy McGrath.

Though there is an apparent link between the bourbon industry slump and tariffs, it's worth noting that Kentucky bourbon sales started to slow down in 2024. Alcohol consumption across the U.S. is on the down swing: the percentage of U.S. adults who say they consume alcohol has dropped to 54%, the lowest percentage in Gallup's 90-year history.


Why Jack Daniel's parent Brown-Forman is reporting lower sales, profit



Olivia Evans and Matthew Glowicki, Louisville Courier Journal
December 4, 2025 3 min read


Brown-Forman, the maker of iconic whiskey products such as Jack Daniel's Tennessee Whiskey and Woodford Reserve, continues to see decreased sales and profits largely attributed to the trade environment and lower used barrel sales.

The first half of fiscal 2026 which ended Oct. 31, saw Brown-Forman report a 4% decrease in net sales and a 4% decrease in gross profit, the company shared in its earnings report Dec. 4.


"We believe cyclical pressures related to ongoing macro, economic and geopolitical uncertainties continued to negatively impact consumer confidence and reduce discretionary spending in the U.S. and in many developed international markets," Brown-Forman President and CEO Lawson Whiting said Dec. 4. "On the other hand, we continue to see resilient consumers in a number of our emerging international markets, where trends are generally much stronger."

The spirits maker, which closed its Louisville cooperage in April and laid off 12% of its global staff in 2025, saw a decline in its 2025 fiscal year sales, has repeatedly spoken about the impact of tariffs and trade on its products. It noted that while its net sales have shown a decline in the first half of fiscal year 2026, it remains optimistic about growth in emerging international markets and its ability to innovate new products like its recent launch of Jack Daniel’s Tennessee Blackberry.


"We continue to navigate a spirit sector facing headwinds and still expect that the behavior of the consumer and the level of trade inventories will not change meaningfully during the 2026 fiscal year," said Leanne Cunningham, executive vice president and chief financial officer at Brown‑Forman.

The company reported its entire whiskey portfolio was neutral ― seeing no growth or loss for the earnings period. Brown-Forman also reported its ready-to-drink products saw 5% growth in the first half of FY26, tequila was down 3% and the rest of the company's portfolio fell 35% in net sales.

Whiting said that while the company experienced notable declines, it's important to note the performance "in developed international markets and the U.S. sequentially improved" when compared to the first quarter.


While Brown-Forman continues to feel drastic effects of many provinces in Canada removing all U.S.-made products from shelves in response to President Donald Trump's tariffs and Europe becoming a more challenging operating environment, the alcohol producer saw strong growth in countries like Mexico, Turkey and Brazil.

Whiting said the company has taken a 60% hit in Canada organic net sales.


"The continued unavailability of American spirits products in Canada resulted in a significant impact to our top line performance," Cunningham said. "While we are hopeful for the return of American products to Canadian store shelves, we continue to assume this headwind will persist for our full fiscal year."


In addition to Canada driving sales down, the other main headwind at play for Brown-Forman is used barrel sales.

"Used barrel sales have returned to levels that reflect the challenging and uncertain operating environment for the spirits industry," Cunningham said. "We continue to expect used barrel sales to be lower by more than half of fiscal 2025 level."

Contact business reporter Olivia Evans at oevans@courier-journal.com or on X, the platform formerly known as Twitter at @oliviamevans_. Reach growth and development reporter Matthew Glowicki at mglowicki@courier-journal.com or 502-582-4000.

This article originally appeared on Louisville Courier Journal: Jack Daniel's parent Brown-

Jack Daniel’s owner sees Canada sales plunge 62% amid boycott of US booze

A view of the atmosphere is seen during Masego headlines Jack Daniel's "Carols By The Barrels" concert event in Los Angeles at The Brig on December 10, 2024 in Venice, California. (Photo by Charley Gallay/Getty Images for Jack Daniel's) · Food Dive · Charley Gallay/Getty Images for Jack Daniel's via Getty Images


Laurel Deppen

December 10, 2025 


This story was originally published on Food Dive. To receive daily news and insights, subscribe to our free daily Food Dive newsletter.

Spirits giant Brown-Forman said the ongoing Canadian boycott of U.S. alcohol spurred by President Donald Trump's tariff policies continues to drag down earnings, with sales in the country declining 62% in the second quarter.


While Canada only makes up about 1% of Brown-Forman’s total sales, the continued absence of its products from a bulk of the country's stores is impacting its entire top line. Total net sales for the quarter fell 5% year over year to $1 billion.

The drop off also impacted the company’s ready-to-drink Jack Daniel’s portfolio, which fell 4% in the first half of its fiscal year.

As Canadian consumers protest Trump's tariffs, only two provinces continue to sell alcohol from the United States, according to the BBC. A majority have pulled stock from the shelves in a bid to promote Canada-produced goods, though some provinces have moved to sell their remaining U.S. inventory to raise funds for charity.

Growth of Brown-Forman's Diplomático and the Glendronach, which are produced outside of the U.S., wasn’t enough to offset the declines elsewhere, executives said in an earnings call last week.

"The continued unavailability of American spirits products in Canada resulted in a significant impact to our top line performance," CFO Leanne Cunningham said on an earnings call. "While we are hopeful for the return of American products to Canadian store shelves, we continue to assume this headwind will persist."

The company expects its full-year net sales to decline in a low-single digit range.

In March, Brown-Forman CEO Lawson Whiting said Canadian retailers pulling U.S. alcohol from stores was worse than a tariff.

Dan Su, equity analyst for Morningstar Research Services, said that earnings calls at several Canada-based grocery stores seem to indicate that the anti-U.S. sentiment among Canadian consumers has eased significantly, which could pave the way for Brown Forman's return in the country.

“It seems to me the friction between the two countries on the tariff subject has eased off in recent months, and hopefully the retailers [and] smaller liquor stores will put Brown-Forman products back on the shelf,” Su said in an interview. “But it’s probably going to take a couple of quarters, and within this time period, that will continue to be a headwind for the company.”

Canada is figuring out what to do with its stockpiles of US alcohol

Katherine Li,Aditi Bharade

December 12, 2025 


Canadian provinces removed American liquor from store shelves earlier this year.Jennifer Gauthier/REUTERS

Most Canadian provinces pulled US booze off their shelves in March to protest Trump's tariffs.

Now, some are selling their stockpiles to raise money for food banks and charities ahead of the holidays.

Manitoba, Nova Scotia, Prince Edward Island, and Newfoundland are four such provinces.

Canada is coming up with ways to put its stockpiled American liquor to good use.


Several provinces in the country halted imports of US booze and removed it from store shelves in March in response to President Donald Trump's tariffs.

Now, at least four provinces are planning to sell the remaining inventory and donate proceeds to food banks.

Canada's far eastern province, Prince Edward Island, told Business Insider that its government will put its stock of American booze, which it had pulled off the shelves, back in stores starting on December 11.

A representative for the province's finance department said the government anticipates profits of $600,000 Canadian dollars, or about $434,000, from the sale. The proceeds will be distributed to food banks across the island. The province says it does not intend to place any further orders for American alcohol.


The finance office of Newfoundland and Labrador told Business Insider it had made an upfront payment of $500,000 on Tuesday to 60 provincial food banks before the sales of any liquors, a move that will help more than 15,400 people. After the liquor is sold, more donations will go to the food banks for a total sum of up to $1 million.

Manitoba and Nova Scotia have similar plans.

Manitoba said it will sell its inventory through private retailers and restaurants, with the estimated $500,000 in net revenue going to food banks, holiday charities, children's organizations, and an advocacy group for First Nations.

As for Nova Scotia, the province is making a $4 million upfront payment to groups that provide food access, and the money will be recouped when the $14 million worth of liquor is eventually sold.


"We will not be ordering any more from the United States once this inventory is gone," the province's premier, Tim Houston, said in a statement. "But Nova Scotians have already paid for this product."

He added, "We don't want it to go to waste. That's why we're selling it and using the proceeds to help those in need."

In Canada, the sale of alcohol is mainly controlled by provincial governments, each of which establishes a board to oversee the matter. Only Alberta has a completely privatized alcohol retail system, while Saskatchewan has a partially privatized system.


Canada mainly imports whiskey and bourbon, alongside beer and other spirits, from the US.
Other provinces have different plans

The provinces are not taking a one-size-fits-all approach to dealing with their stockpiles of American booze. Some are still undecided about what to do, while others have already sold off their inventory earlier in the year after ceasing imports.

A spokesperson for Ontario's finance ministry told Business Insider that the province had no plans to put the booze on store shelves soon.


"US alcohol will remain off shelves and is being held in storage until further notice," said the spokesperson. "We are currently exploring options for the products."

Ontario did not disclose how much inventory it still has, but the province said the inventory it had pulled off the shelves in March was worth around C$80 million.

A government representative from the Northwest Territories and a spokesperson of the British Columbia Liquor Distribution Branch both told Business Insider that they ceased US liquor imports in March, but will continue selling the stockpiled products until they are depleted.

A Yukon government cabinet representative said Yukon has the same plan.

However, the mountainous province of Alberta continues to import and sell American booze.


"In June this year, Alberta lifted restrictions on the purchase of US alcohol from American companies, signalling a renewed commitment to open and fair trade with our largest partner," a spokesperson of Service Alberta and Red Tape Reduction told Business Insider.
American distillers are hurting

The matter of US booze has been fueling the trade tension between the two neighbors.

The animosity started when Trump imposed a 25% tariff on Canada in March and commented that Canada should become a state of the US.

Despite later walking back some of his broader tariffs and upholding a previous agreement that ensured most goods remain tariff-free, Trump's moves have drawn the ire of Canadians, who have canceled travel plans and boycotted American goods in stores.


According to the Distilled Spirits Council, US spirits exports to Canada plummeted 85% in the second quarter of 2025, falling below $10 million in export value.

"We hope both the US and Canada can address their respective concerns," said Chris Swonger, the CEO of the council. "And that our products can return to Canadian retail shelves as soon as possible."

In March, Kentucky's bourbon makers said Canada's ban on American alcohol would hurt them.

Eric Gregory, the president of the Kentucky Distillers' Association, said in March that retaliatory tariffs would have "far-reaching consequences across Kentucky, home to 95% of the world's bourbon."


Beloved beer brand and brewery shuts down, no bankruptcy




Kirk O’Neil
Updated Tue, December 16, 2025 


The craft beer industry has suffered a devastating year in 2025, as over 250 breweries in the U.S. closed down permanently in the first six months of the year.

Most craft breweries blamed rising costs, slowing taproom traffic, and fierce retail competition as the reasons for their demise, American Craft Beer reported.


The number of craft breweries operating in the U.S. declined from 9,747 in 2023 to 9,269 in June 2025, the Brewers Association reported, and the number continues to decline.
Craft breweries file for bankruptcy and liquidate


Several craft brewers have liquidated and closed in Chapter 7 this year, including St. Petersburg, Fla.-based brewery Dissent Craft Brewing, which filed for liquidation in August; Exton, Pa.-based Iron Hill Brewery LLC and San Jose, Calif.-based Strike Brewing Company, which both filed petitions in October; and Oregon-based Rogue Ales & Spirits, which filed Chapter 7 in November.

One of the most prominent craft brewery closings was Albuquerque, N.M.-based Bosque Brewing Company, which filed for Chapter 11 protection in October 2025 and closed two of its 11 New Mexico establishments in December.

Entropy Brewing Co. closes down its business after almost a year and a half of operating.Shutterstock

Entropy Brewing Company closes permanently


And now, popular Ohio beer brand and brewery Entropy Brewing Company posted on social media that it will not make it to New Year's Eve as it closes down its business permanently on Dec. 27, 2025.

The Miamisburg, Ohio, craft brewery, restaurant, and bar revealed in a Dec. 12 Facebook post that it will shut down operations on Dec. 27, but did not state a reason for closing.


"We have an important update to share: Entropy Brewing Co. will be closing on December 27, 2025. We are deeply grateful for the incredible support this community has shown us. Thank you for the memories, the laughter, and the many good times shared here," the brewery said in the Facebook post.

"Many of us have developed great friendships with many of you. Please visit and say goodbye. Cheers!" the message concluded.
Entropy Brewing opened in July 2025 in a historic building

Entropy Brewing Co. opened for business on July 3, 2024, in a historic 125-year-old downtown Miamisburg building that was built in 1900 to house Suttman's Men's and Boy's Wear, which itself shut down in 2013, according to the Dayton Daily News.

The fledgling craft brewery, which described itself as "a multi-generational brew pub for the whole family," included an indoor playground for children 2-10 years old in an adjacent building where the brew pub's kitchen is located.

The brewery featured a taproom on the main floor and a speakeasy lounge and cocktail bar in the basement. The second and third floors housed one- and two-bedroom apartments.

More closings:

Casual Mexican restaurant chain closes more locations


79-year-old national trucking company closes down, no bankruptcy


65-year-old Home Depot rival shutters business permanently

Entropy Brewery's beers on tap include Bleacher Talk blonde ale, Dark Matter oatmeal stout, 635nm red ale, Vin & Aether aged saison, Viking Project hazy IPA, Phase Change mild coffee ale, Peach Nebula session black dark lager, Chocolate Coal session dark lager, The Black Hole Hallertauer blanc forward black lager, and Pumpkin Project hazy IPA.

Entropy Brewery's beers:

Bleacher Talk blonde ale


Dark Matter oatmeal stout


635nm red ale


Vin & Aether aged saison


Viking Project hazy IPA


Phase Change mild coffee ale


Peach Nebula session black dark lager


Chocolate Coal session dark lager


The Black Hole Hallertauer blanc forward black lager


Pumpkin Project hazy IPA.

The brew pub's dining menu includes a variety of steak burgers, sandwiches, tacos, mac and cheese, salads, starters, dips, and a kids' menu.

The brewery also rented out spaces for parties and special events, including the Stuttman Room, Lower the Bar, Main Dining Area, Outdoor Patio, and the whole Entropy Building with 200 seating capacity.

Related: Bankrupt beer and pizza restaurant chain closes locations

This story was originally published by TheStreet on Dec 14, 2025, where it first appeared in the Restaurants section. A

AB InBev to shut two US breweries, sell another

https://www.shutterstock.com/image-photo/hephzibah-ga-usa-06-15-23-2318947385 Budweiser and Bud Light on sale in Hephzibah · Just Drinks


Dean Best

December 12, 2025 

Anheuser-Busch InBev is to close two breweries in the US and offload another.

The Budweiser brewer said the changes mean it can “invest even more in our remaining operations”.

AB InBev is shutting facilities in Fairfield in California and in Merrimack in New Hampshire.

Meanwhile, the world’s largest beer maker is selling a brewery in Newark in New Jersey to property business Goodman Group.



Around 475 staff are affected. A spokesperson for the Michelob Ultra owner said it would offer all the employees “a full-time role elsewhere in our US operations”.

The spokesperson said AB InBev would move “production from these three facilities to our other US facilities” and added: “These changes will enable us to invest even more in our remaining operations and in our portfolio of growing, industry-leading brands.”


In the first nine months of 2025, AB InBev’s revenue in the US declined 1.2%. Sales to retailers fell 3.1% while sales to wholesalers slid 3%. EBITDA inched up 1.1%.

In 2024, the Bud Light brewer reported a 2% fall in US revenues, with sales to retailers decreasing 5% and sales to wholesalers falling 3.9%.


The spokesperson pointed to AB InBev’s recent investment at other breweries in the US. This year, the company has announced projects including at sites in Georgia and New York.

Last week, AB InBev announced a deal to acquire a majority stake in BeatBox, the US-based hard-punch maker.

AB InBev will pay up to around $490m for an 85% shareholding in BeatBox.

Texas-based BeatBox sells its products across the US. Its portfolio spans 20 SKUs, including Blue Razzberry, Orange Blast, Mystic Grape, Lemon Squeeze and Sweet Heat Cinnamon.

The brand entered the UK in October through a distribution agreement with Red Star Brands, securing listings in 700 Morrisons stores.

"AB InBev to shut two US breweries, sell another" was originally created and published by Just Drinks, a GlobalData owned brand.


Anheuser-Busch to shutter its Merrimack facility in early 2026

Jonathan Phelps, 
The New Hampshire Union Leader, Manchester
December 11, 2025


Anheuser-Busch will shutter its brewery operations in Merrimack early next year along with facilities in California and New Jersey.

The company known for its Budweiser products confirmed the closing Thursday morning, but has not filed any paperwork under the federal WARN Act, according to the U.S. Department of Labor.


Merrimack officials were told about 125 workers at the plant will be given options to relocate or take a severance package.

The shutdown puts an end to more than 50 years of “The King of Beers” being brewed at the more than 400,000-square-foot processing facility at 221 Daniel Webster Highway. The property also includes warehouses, office buildings, and its well-known biergarten.

Merrimack Town Manager Paul Micali received a call from an Anheuser-Busch representative Thursday morning who told him about the plant closing.

“It is a surprise that they are closing so quickly,” he said. “I knew there were talks about the facility, but I didn’t think they were going to close within four months, three months.”

In addition to the Merrimack plant, the company will also close a facility in Fairfield, California, and sell another in Newark, New Jersey, to the Goodman Group. Approximately 475 full-time employees across all three plants will be impacted, according to a company spokesperson.


All full-time employees will be offered roles in other facilities within the company’s U.S. operations with relocation stipends and new location skills training. Employees who choose not to relocate will be provided with severance packages and other resources, the company said.

The company has been making changes over the past five years to “update and modernize” its U.S. manufacturing operation, including investing $2 billion in more than 100 facilities across the country.

“We will be shifting production from these three facilities to our other U.S. facilities and these changes will enable us to invest even more in our remaining operations and in our portfolio of growing, industry-leading brands,” a company spokesperson said.

Anheuser-Busch earlier this year announced it would stop the production of craft beer in Portsmouth. The production space at Pease International Tradeport opened as Redhook Brewery in 1996.


Michael Skelton, Business and Industry Association president and CEO, called the news disappointing as he said Anheuser-Busch was a great employer and community partner over the years.

“I’m sure this is part of a long-range continual assessment of the best deployment of resources,” he said. “Unfortunately, we’re not immune to those decisions despite the state, I think, offering a very competitive environment for companies like this in terms of our regulatory environment and quality of our workforce.”


Senate President Sharon Carson, R-Londonderry, called Anheuser-Busch a “cornerstone” for the state’s manufacturing sector.

“During this time, it has played a vital role in our local economy, not only through job creation and tax revenue but also through its contributions to community outreach and charitable efforts. I want to thank them for making New Hampshire their home,” she said in a statement.


Department of Business and Economic Affairs Office Interim Director James Key-Wallace said his department will reach out to Anheuser-Busch to see how the state can offer assistance to the impacted workers.

“We are here to support Granite Staters impacted by Anheuser-Busch’s closure of its facility in Merrimack,” he said.

The Merrimack plant opened in 1970 and celebrated its 50th anniversary in 2020.

Tours were also popular at the plant, with reports of up to 100,000 visitors a year in its heyday.

But much of the allure diminished when the company announced in 2018 it would relocate its Budweiser Clydesdales training facility to Missouri. Clydesdales were supposed to remain at the Clydesdale Hamlet in Merrimack when they weren’t on tour, but that did not end up being the case.


The same year, the company completed an $11 million project to increase the facility’s cross-brewing capabilities.

Some of the well-known events every year include Oktoberfest, Ribfest and concerts. The organizers of the NH PoutineFest said they’ve been receiving a lot of messages since the closure was announced.

“Very sad news to us,” the group wrote on Facebook. “The staff at AB has become part of our family in many ways. At this time we are going to focus on supporting our friends.”

Skelton said once the initial shock wears off conversations can begin on how the property will be redeveloped.

Micali, the Merrimack town manager, said the town’s wastewater system was built around the facility, which is at little less than half the system’s flow, which amounts to between $1 million or $1.5 million in sewer revenues.

Property taxes from the site typically come in around $800,000 a year.

He called the plant an institution.

“Everybody knows someone who’s worked there, or their grandfather worked there, or somebody worked there in the past,” he said.

Anheuser Busch is owned by Anheuser Busch InBev, a Belgian multinational beverage and brewing company.


Economic Stress Has Americans Shifting from High-End Booze to Cheaper Bottles

Sarina Trangle
December 14, 2025
 Investopedia


Kevin Carter / Getty ImagesDon Julio and other high-end tequila sales have softened, Diageo PLC said.


Key Takeaways

Sales of spirits that cost $100 or more have plunged, and consumers are shifting from "super premium" to "premium" tequila, liquor-company executives said.


The business leaders said people "trading down" shows that Americans still want to buy and drink alcohol.


Fewer booze buyers are reaching for the top shelf.


Americans aren't thirsting for for the high-end tequila that once flowed freely, spirits companies said, as demand for $100 spirits has dropped off. Consumers appear to be trading down—or selecting less expensive versions of their preferred beverage—said Lawson Whiting, CEO of Brown-Forman (BF.A, BF.B), on Thursday, as sales of more affordable bottles fell less.

“We are seeing some weakening, for the first time, in terms of trade down,” Whiting said on a conference call, according to a transcript made available by AlphaSense. "When you look at $100 and above or $50-to-$100 [segments], those price points have weakened considerably."

Industrywide, the number of $100-plus bottles sold has fallen 18% in the past three months, according to the market research firm NielsenIQ.

Why This News Matters to Investors

Consumers are trying to cut back on booze amid concerns about the job market and inflation. Many are likely to step back first from discretionary items, such as fancy liquor or meals out.

Diageo, which makes Johnnie Walker and Crown Royal, said sales of its "super premium" tequila brands have weakened, including Don Julio, which can cost as much as $470 for a 750-ml bottle of Ultima Reserva, as well as Casamigos, which retails for $40 to $62, according to Total Wine & More quotes for New York.

Some customers are shifting to Astral, a "premium" alternative that Total Wine sells for $32, Diageo's interim CFO Deirdre Mahlan said, explaining that the tequila category has also grown competitive as the spirit exploded in recent years.

The spirits companies offer a sign that consumers are cutting back on alcohol because of the economy, rather than in response to health concerns and changing norms, which are also reconfiguring consumption and spending in the sector.

Research shows younger Americans drink less than prior generations. Several factors may be at play: health and wellness is a bigger priority; some socializing has moved online; and disposable income is tight. Legal cannabis may also rival its appeal, and many are now buying non-alcoholic spirits and beers. But some companies believe money is at the root of the change.

"It's largely economic," Mahlan said last month, according to a transcript. "Look at the changes that we're seeing in terms of trade down both in formats and price points."

This article has been updated since it was first published to clarify the industry data from NielsenIQ.


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