Nashville, Tennessee-based Barrel Stock Trading Co. has named Joseph Goode as its president. The former Truist Financial executive, involved in some of the biggest acquisitions and financings in recent whiskey history in the U.S., has been tapped to lead Barrel Stock, a growing spirits investment firm, now one of the largest in the world.
Formed in 2020 by Dan Hogan and Clint Smith, Barrel Stock buys barrels of quality whiskey from top-tier distilleries, holds those barrels as they increase in age and value, and eventually sells them to other industry stakeholders, investment partners, or brands. The company’s flexible investment options are tailored to any individual, family office or institution’s needs and include a broad assortment of barrel ages and mash bills from award-winning Kentucky distilleries, such as Bardstown Bourbon Co., Green River, Log Still, Western Kentucky, Wilderness Trail, LuxRow, and soon, Potter Jane Distilling, in addition to Great Northern and Stafford in Ireland.
Goode brings nearly two decades of banking experience, with a particular emphasis on the spirits industry, to Barrel Stock. Most recently, he served as senior vice president – beverage industry manager at Truist, a leading U.S. commercial bank. Goode was Truist’s lead in orchestrating the acquisition of high-flying Blue Run Spirits to Molson Coors in the fall of 2023 and also provided financing for Penelope Bourbon leading up to their sale to MGP that same year. While at Truist, he served as the original architect and leader behind the company’s barrel financing program, which became one of the largest platforms for barrel lending across the commercial banking landscape.
Prior to that, Goode held the position of director – food & beverage – retail & distribution industries for BMO Harris Bank and senior vice president for Wells Fargo’s beverage group. Throughout his career, he has originated more than $3 billion in loan commitments helping finance mergers and acquisitions; leveraged buyouts; project financings; facility expansions; subordinated debt refinancings and restructurings; and equity raises. His former client list is expansive across the spirits and broader beverage landscape, including companies such as Brindiamo Group, Bardstown Bourbon Co., Green River Spirits, MGP, Heaven Hill, Potter Jane Distilling Co., Whiskey House of Kentucky, Traverse City Whiskey Co., and Still Austin Whiskey Co., among others.
“As a wholesale bourbon trading firm that secures, ages and eventually sells the whiskey that will one day make it onto the shelf of your favorite store, it is critical for Barrel Stock to have a leader with a keen understanding of future markets and Joe has demonstrated his value in this area for countless spirits partners,” said Barrel Stock co-founder Dan Hogan. “As the demand for whiskey continues to grow in the U.S. and worldwide, we are targeting a 20%+ internal rate of return and feel strongly Joe will serve as a steady hand and trusted advisor for our valued clients interested in this unique investment opportunity.”
In addition to its investment platform, Barrel Stock also works directly with brands and other industry stakeholders to bring aged and more useful products and capital to the market through creative and thoughtful solutions.
“While whiskey has proven to be a lucrative asset-backed investment with an unprecedented downside protection for our limited partners and we will continue to provide those opportunities, one of my goals at Barrel Stock is to play a more direct role in facilitating financing, convening partnerships, and creatively solving supply chain and cash flow problems for commercial brands in this space as well,” said Goode. “Over time our model will evolve from simply holding and trading bulk whiskey into a capital and liquid supplier to brands and industry stakeholders to help support and drive meaningful growth in the industry.”
Goode holds a degree in finance and real estate from Northern Iowa University and is based in Atlanta.