MARCH 2026

Bourbon stocks hit hard, premier of 5 questions with ..., Remus Repeal Reserve review

Source: Four Roses

First, a few Bourbon Resource changes

As a small, free publication, I don’t put as much effort into social media as I should. Facebook has made it easy for me because it’s made algorithm changes that downplay news/analysis of spirits. I might occasionally post on Facebook, but I will devote more energy to Twitter (@raymarcano) and Instagram (@thebourbonresource). Please follow me on either social site, where I post press releases announcing new releases.

THE BIG BOURBON RESOURCE NEWS

The bourbon industry took a gut punch last week in the place that hurts most — stock prices.

Global spirits giant Diageo, the parent of brands that include Bulleit Bourbon, released its interim fiscal 2026 results, which show its sales and profits have taken a beating. Worldwide net sales and operating profit are each down 2.8%, largely driven by an underperforming North American market. For the full fiscal year, the company expects a sales decline of up to 3%.

After the news, Diageo’s stock price hit a 52-week low and dragged down other spirits companies. MGP, one of the largest bourbon distilleries in the world, and Brown-Forman, maker of Old Forester and Woodford, have experienced lagging stock prices. Brown-Forman will release its latest financial results on March 4, and if it underperforms, I’ll likely send out a short newsletter instead of waiting a month for the news.

No wonder the Japanese-based spirits company Kirin sold the Four Roses distillery to EJ Gallo for $775 million.

What does this mean? Diageo, in its presentation, mentioned a “price repositioning” strategy, which is another way of saying it might lower prices. Even if it does, I wouldn’t expect it to be significant. It’s more likely we’ll continue to see more formally “allocated” and more expensive bourbon on the market, along with minimal price drops.

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MORE BOURBON RESOURCE NEWS

• Penelope Bourbon has released a Barrel Strength 7-Year, a limited product blending four straight bourbon mash bills and bottled uncut, non-chill filtered at 115.2 proof. Roughly 13,000 six-bottle cases will be available with an SRP of $60. Penelope has come a long way over the last few years, and it’s quickly made a name for itself as a distiller of quality products.

• The 2026 edition of Rebel Kentucky Straight Bourbon Whiskey Single Barrel Selected by Kyle Busch is on the market with an SRP of $40. It’s a four-year-old wheated bourbon at 108 proof and one I’m trying to get my hands on.

• Proof and Wood did well at the 2026 World Whiskies Awards, with the following awards:

Presidential Dram — World’s Best Single Barrel Bourbon
Tumblin’ Dice Rye— Best Single Cask Rye
Seasons 2025 Blend — Award Winner, Blended WhiURE, Tskey Category

• Other winners include New Riff’s Bottled in Bond (one of my favorites) as Best Kentucky Bourbon; 15 Stars Artisan Collection for best non-Kentucky bourbon; and Marker’s 46 for best Kentucky finished bourbon and Redemption Cognac Cask finish for best non-Kentucky finished. I can’t argue with any of those.

WHAT MAY NOT CHANGE

Sure, there’s a lot of upheaval in the industry, but VIP bourbon clubs seem be thriving. Both the Front Row by Lux Row Distillers and The Branch by Limestone Branch are among those accepting membership into the private clubs. They’re not inexpensive. The Branch is $800 a year, with an additional $200 if you need your bottles shipped to you, and Front Row is $1,500/yr. All sorts of goodies come with the memberships, including allocated and rare bourbon picks, special distillery tours, VIP gatherings, and more.

If I lived in the Bardstown, KY area, I would be tempted by the Front Row because I’m a fan of Lux Row products. Since I don’t, I’ve signed up for Remus Bottle Club, which gives me access to a bottle per quarter. While I have to pay for the bottles, there’s no upfront membership cost, and I don’t have to buy all four offers.

I don’t see the bourbon industry’s issues impacting the VIP clubs. Across sectors such as airlines, cruises, country clubs, and more, Americans will pay for unique access. Being a VIP makes people feel special via exclusivity and recognition. The bottles available to members in the paid clubs aren’t generally available to the public, and that’s attractive to the bourbon aficionados.

Do you belong to a bourbon club? Let me know!

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THE BOURBON RESOURCE FIVE QUESTIONS WITH …

Some years ago, I started (and still write) a feature the New York Knicks-centric basketball publication Knicks Film School called “Five Questions with …” It’s a simple concept in which I ask five questions, some serious, some irreverent, of people in the sport.

I’m bringing that feature to The Bourbon Resource and hope that it appears here more months than not.

This month, with have 5 questions with Ian Sirsman, the Master Distiller at Ross & Squibb.

1. How did you go from chemical engineering to distilling?

Today, the majority of master distillers at large distilleries hold degrees in chemical engineering. Modern distilleries rely on complex processes, and a basic understanding of thermodynamics, fluid transfer, and chemistry is extremely helpful for grasping how those processes work. I entered the industry 12 years ago when a recruiter from MGP contacted me about an opportunity to be a shift manager at the Ross & Squibb Distillery (then MGP of Indiana). Managing the distillery on the night shift accelerated my learning, as the limited support during those hours required me to develop a hands-on understanding of the process very quickly.

2. You speak to a lot of groups. What topics are people most interested in?

In my experience, people genuinely enjoy learning about the science behind whiskey production. Many whiskey enthusiasts grow tired of marketing narratives and are more interested in understanding what actually happens inside the distillery. The connection between agriculture and whiskey is also an area that has become increasingly compelling to enthusiasts.

3. We read a lot about the problems the bourbon industry faces. What are people getting wrong or missing?

I think it’s easy to forget that, in this industry, we’re forecasting demand a decade or more into the future. If you have a 10-year-old bourbon on the shelf, you have barrels laid down for that product that are one year old to 10 years old. Because it’s impossible to predict demand that far ahead with complete accuracy, the industry will inevitably experience periods of barrel shortages as well as times when barrel supply outpaces demand.

4. My favorite food with bourbon is ….. (and why)

BBQ, sitting around a smoker with friends with a glass of bourbon in my hand, is my happy place.

5. Who would you like to share a pour with, and why (could be anyone, someone famous, a historical figure, someone in the industry you haven’t met)

It would be pretty cool to share a glass of bourbon with Dave Chappelle. I like to laugh and have meaningful conversations when I’m enjoying a bourbon. He has an uncanny ability to make you laugh and think at the same time.

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THE BOURBON RESOURCE REVIEW

Remus Repeal Reserve Series IX (2025)

Proof: 104

MSRP: $100

Remus Repeal Reserve 2025

Short take: A terrific cand complex bourbon. I need another bottle

History: Remus Repal started in 2015, when former master distiller Greg Metze kaunched“Metze’s Select Medley” using MGP bourbons. When Metze left in 2016, his creation morphed into what is now the Remus Repeal Reserve’s yearly release, which is now spearheaded by Ian Stirsman.

Remus Repeal Reserve Series IX 2025

Mash bill: Blend of four bourbons aged between 10 and 18 years

Let’s taste it:

🛏 Rested for 15 minutes in a Glencairn glass

👉🏻Nose: Leather, oak, corn, vanilla

👉🏻Taste: Caramel, pepper, rye, butterscotch

👉🏻Finish: Leather, oak, rye, caramel, peanuts

Remus Repeal Reserve Series IX 2025

Summary: These four blends make a well-rounded pour.

• 7% of an 18-year-aged bourbon containing 21% rye;

• 26% of an 11-year-aged bourbon comprising 36% rye;

• 23% of a 10-year-aged bourbon containing 36% rye;

• 44% of a second 10-year-aged bourbon comprising 21% rye.

The high rye of the 10 and 11 gives that nice light spice. While the 18-year-old makes up the smallest amount of the bottle, I’m convinced the oakiness comes from the older whiskey. It’s the complexity that won me over. After taking a sip, allow a few minutes to pass to appreciate the flavors. I know Ian just did a Five questions for us, but I’m curious how he blended a product with such depth and character. I’ll ask one day.

Conclusion –Remus Repeal Reserve Series IX 2025.

This bourbon makes my Lux Row membership worth it. I don’t have to buy every bottle they offer, and the $20 shipping is worth it (to me), so I don’t have to stand in line or miss out on a bottle. My bottle might be a bit delayed, but so what? I’ll buy quality like this anytime (and I’m hoping Gatsy Reserve is on the list).

Have you tried Remus Repeal Reserve 2025? What do you think?

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That’s it for this month! And our friends at Bourbon Obsessed have a tremendous catalog of bourbon and distillery reviews. You can see more from them here:

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Ray Marcano writes and publishes the Bourbon Resource monthly, and he’s president of the 32 Staves Society. He’s a bourbon lover and long-time journalist who freelances for some of the country’s largest media brands. He’s the former national president of the Society of Professional Journalists, a two-time Pulitzer juror, a Fulbright fellow, and was named best columnist in the state of Ohio. He recently began writing a Fine Wine and Dining column for the Dayton (OH) Daily News.