Simpson Thacher represented Ole Smoky Distillery, a portfolio company of funds advised by Apax, in connection with its merger with Tanteo Spirits, one of the fastest growing ultra-premium tequila companies. The transaction marks the Tennessee-based distillery’s entry into the fast-growing tequila market, as it moves to diversify its portfolio across other high-growth spirits categories. Financial terms of the transaction were not disclosed.~~Ole Smoky is a leading distiller of premium moonshine in the world, a leading craft distiller in the U.S. and the first federally licensed distillery in the history of East Tennessee. Founded in 2010, Ole Smoky’s roots are traced to the Smoky Mountains’ earliest settlers, families who produced moonshine with enduring pride and Appalachian spirit. One of the fastest growing spirit brands in the country, Ole Smoky is one of the most visited distilleries in the world having welcomed over 5.3 million visitors in 2022.~~Founded in 2007, Tanteo’s namesake brand is renowned as the original spicy tequila made with real-pepper infusions. Distilled in partnership with the cooperatively owned Distilladora Juanacatlan, in 2022, Tanteo sold over 70,000 cases driven by consumer demand for versatile, ultra-premium tequila and its unique, high-quality infused products. Most recently, Tanteo received several recognitions from the ASCOT Awards, including a Double Platinum Award, 2023 White Spirit of the Year, and Best Tequila for Tanteo Blanco and a Gold Award for Tanteo Jalapeño Tequila.~~The Simpson Thacher team included: Michael T. Holick, Ryerson Symons, Andrew Norwich and Wang Chen (M&A); Andrew Blau, Megan Arrowsmith and Allison Sutherland (Executive Compensation and Employee Benefits); Leah Tendler and Abdulyekinni Fasinro (Banking & Credit); Sophie Staples and Edward Grais (Tax); Lori Lesser, Corina Holland and Sarika Pandrangi (Intellectual Property); Krista McManus (Real Estate); Michael Isby (Environmental); and Steven DeLott (Insurance).