Investor Emerges as Potential Buyer of Uncle Nearest Whiskey Amid $108M Debt

(Photo: Uncle Nearest)

A Georgia-based investor group has formally expressed interest in acquiring the assets of Uncle Nearest Premium Whiskey as the Tennessee distiller remains under federal receivership, The Spirits Business reported Monday.

In August, it was reported that Uncle Nearest was facing a lawsuit from a creditor claiming the company had defaulted on more than $100 million in loans.

NexGen 2780, a registered domestic limited partnership, submitted a letter of intent to the U.S. District Court for the Eastern District of Tennessee on Jan. 8 outlining a proposal to purchase all of Uncle Nearest’s assets and resolve its $108 million debt to Farm Credit Mid-America. The letter was addressed to U.S. District Judge Charles E. Atchley Jr., who is overseeing the case.

According to the filing, NexGen 2780’s proposal includes paying off the secured debt, providing additional working capital, covering court and receivership-related expenses, and offering an exit framework for current equity holders. Any transaction would require court approval and signoff from the court-appointed receiver.

Walter Miles, NexGen 2780’s general partner, said in the letter that the group first presented the proposal to Farm Credit Mid-America, Uncle Nearest and the receiver in October 2025. He raised concerns that the length of the receivership process could erode the brand’s value over time.

The letter argues that prolonged proceedings could damage Uncle Nearest’s relationships with distributors and vendors, complicate employee retention, and weaken the brand’s position in the market. A faster, court-supervised sale, the filing suggests, could help preserve value while improving recovery prospects for creditors and other stakeholders.

Under the proposed framework, existing equity holders would have several options, including redemption, a buyout using proceeds from a sale or retaining a partial interest. NexGen 2780 indicated it would aim to complete the process within 90 days.

Uncle Nearest and its related entities remain under federal receivership following an order issued on Aug. 15, 2025. Legal disputes tied to the case are ongoing.

Recent court filings show that founders Fawn and Keith Weaver have sought emergency relief to prevent the receiver from sharing what they describe as competitively sensitive information with potential buyers. They have also challenged the appointment of the receiver itself.

A federal magistrate judge, Christopher H. Steger, has scheduled a hearing for Jan. 20 to consider several motions seeking to keep certain court records sealed. The requests include limiting access to proprietary business information while the court reviews the Weavers’ objections.

Separately, the Weavers earlier this month filed a civil lawsuit against the company’s former chief financial officer, Michael Senzaki.

NexGen 2780 LP was registered in Georgia on June 11, 2025, according to state records. The partnership initially listed five general partners: Chuck Speed, Eddie Morre, Kris Jester, Mark Jones and Walter Miles. An amended filing effective Oct. 28 shows Jones and Miles as the remaining general partners.

As a domestic limited partnership, NexGen 2780 operates under Georgia law, with general partners managing the business and assuming liability, while limited partners contribute capital without participating in day-to-day operations.

In its Jan. 8 filing, Miles said NexGen 2780 was formed specifically to manage court-supervised debt resolutions and potential acquisitions. He added that the investor group includes both individual and institutional participants, with the institutional backers citing experience across multiple industries.