Chevalier Casks on Falling Barrel Prices and the New Golden Age for Small Bourbon Brands

This week on Thursday Thoughts, Jake sits down with Coby and Ben Franzini, co-founders of Chevalier Casks, to unpack one of the least understood — but most critical — corners of the bourbon industry: bulk spirits. Ben is also a co-owner of Bluegrass Distillers, and Coby spent 25 years as a commercial banker in central Kentucky before moving into bourbon finance, giving the two a unique combined view of how barrels actually move through the industry. The conversation covers how distilleries quietly offload excess barrel inventory, why privacy matters so much in these deals, and how the wholesale barrel market has shifted dramatically in the last 18 months — with prices on some aged barrels dropping from thousands of dollars to a fraction of that. That shift, they argue, is opening the door for a new wave of small, independent bourbon brands who can finally make the math work again. In this episode: What "bulk spirits" actually means and why it keeps bourbon on shelves How Chevalier Casks and Bluegrass Distillers work together Why distilleries sell barrels quietly — and why privacy is starting to matter less for some brands How barrel prices have shifted in the last 18 months, and what it means for small brands What trends are showing up in demand right now (hint: wheated bourbon) How Chevalier Casks' online marketplace works for both buyers and sellers The hidden costs (storage, tax, insurance, freight) brands often don't budget for How a new brand can get started working with Chevalier Casks Subscribe to Bourbon Lens for more conversations with the people shaping the bourbon industry. Approximate Timestamps 0:00 – Intro: what bulk spirits are and why they matter 1:19 – How Chevalier Casks got started 3:24 – How Chevalier and Bluegrass Distillers work together 5:23 – How barrels quietly move from distillery to broker 7:00 – Privacy, NDAs, and why some brands now talk openly about sourcing 10:49 – How barrel prices have shifted in the last 18 months 13:29 – Why it's a good time again to start a small bourbon brand 15:48 – How NDPs actually buy lots (and how fast double-digit ages move) 19:57 – What's trending: wheated bourbon and blending strategies 26:23 – Getting started with Chevalier Casks 28:9 – The hidden costs of building a brand (storage, tax, freight) 29:37 – How Chevalier's online marketplace works for buyers and sellers