BALTIMORE — There is a new majority owner of Sagamore Spirit, a Baltimore-based rye whiskey brand and distillery.
Illva Saronno Holding S.p.A., an Italian company, has purchased a majority of Sagamore Spirit's shares.
Known for their Italian liqueur, Disaronno, Illva is planning to relocate its North American headquarters to Baltimore Peninsula, the waterfront development formerly known as Port Covington.
Sagamore Spirit was founded in 2013 by Kevin Plank, the Executive Chairman of Under Armour, who started and still owns a major equity stake in Baltimore Peninsula.
“Growing Sagamore Spirit has been an incredibly rewarding experience with a team that has obsessed every detail across this holistically Maryland grain-to-glass whiskey business,” said Plank. “I’m also very excited that Illva Saronno Holding loves our Baltimore Peninsula location so much that they’ve decided to relocate their North American headquarters to Maryland."
