Uncle Nearest Distillery in Shelbyville, Tennessee, was founded by Fawn and Keith Weaver in 2017. The Uncle Nearest brand has been embroiled in a court ordered receivership since August 2025. The brand owes its primary lender, Farm Credit Mid-America more than $108 million with no clear path to pay that money back. It seems every time the receiver moves a rock, something new pops out. This time however, he has good news the he has received a Letter of Intent – LOI to purchase the distressed distillery.
What is in the Uncle Nearest Green Distillery Letter of Intent Offer?
Court appointed Receiver Phillip G. Young, Jr. has submitted a letter to the judge in the case that says on May 29, 2026, they received an offer to buy most but not all of Uncle Nearest.
Notice of Signed Letter of Intent to Sell Substantially All Assets of…
(i) Uncle Nearest, Inc.,
(ii) Uncle Nearest Real Estate Holdings, Inc. and
(iii) Nearest Green Distillery, Inc. (this “Notice”).
What is NOT Included in the Uncle Nearest Green Distillery Letter of Intent?
For the most part, the items that are excluded from the LOI are things that the bank never should have loaned money on in the first place.
The LOI excepts…
(a) the real property located in Edgartown, Massachusetts,
(b) any assets of Grant Sidney, Inc., and
(c) the receivership property located in Cognac, France.
The LOI specifically provides that the sale shall be subject to approval by this Court or another court of competent jurisdiction.
Related Stories
– Federal Judge Orders Receivership for Nearest Green Distillery – Uncle Nearest Whiskey – Company Owes $108M
– Nearest Green Distillery Founder Fawn Weaver Responds to Farm Credit’s ‘Salacious and Inaccurate Allegations’ – ‘Mount Up’
– Farm Credit Mid-America Files $100M Suit Against Nearest Green Distillery – Requests Receivership
Who is the Buyer of Uncle Nearest Green Distillery?
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We are not likely to know the identity of the buyer for at least 45 days.
The purchaser has requested to remain confidential, subject to a signed non-disclosure agreement, until the execution of a formal asset purchase agreement (the “APA”); execution of the APA is expected to take place within approximately forty-five days. While the purchaser has requested continued confidentiality, it has permitted the Receiver to share limited details.
From what was disclosed, the buyer is an investment firm with an African-American ownership and leadership structure. The purchaser has indicated its intention to maintain the brand’s existing workforce, enhance sales and route to market capabilities through strategic partnerships, and honor the cultural significance that has made Uncle Nearest one of the most recognized spirits brands in the country. The purchaser is also committed to honoring the history of Nathan “Nearest” Green – the first African-American master distiller on record in the United States – and to providing the product inspired by Mr. Green to consumers nationally and globally.
Additional details regarding the identification of the purchaser, the new ownership structure, and future strategic directions of the brand will be disclosed once the Receiver is prepared to seek formal approval of this proposed sale.
Learn more about Uncle Nearest Distillery.
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