Dry Fly Distillery sells majority stake to California wine maker

A longtime California-based winery, Caymus Vineyards, has purchased a majority stake in Spokane-based Dry Fly Distilling.

Dry Fly, launched in 2007 by founder Don Poffenroth, has expanded over time with products that are now available in 35 states. The new partnership, which includes installing Caymus Vineyards officials on the Dry Fly board, could help the Spokane company increase its national footprint, according to the news release.

Caymus was founded in 1972 by Chuck Wagner and his late parents. Chuck Wagner’s son, Charlie Wagner, and Poffenroth previously have worked together, including Dry Fly finishing whiskey – which won’t be available until 2025 – in the same barrels previously used to make a vintage of Caymus Vineyards’ cabernet sauvignon.

“While my primary focus is making wine, it’s been thrilling over the past decade to work with Dry Fly on one of my favorite projects – creating a wheat-based whiskey aged in our wine barrels that reflects fine craftsmanship and the highest standards of quality and taste,” Charlie Wagner said in the release. “Now we are taking our collaboration to the next level.”

Efforts to reach Poffenroth were not immediately successful. But in the release, he mentioned working with Wagner over the past decade “and nurturing this partnership.”

“The Wagner family is one of true honor,” Poffenroth said. “We share the same vision and we are thrilled to put Dry Fly and its future growth in their hands. I have no doubt this will be a great partnership. Also, as I approach retirement, I hope it will free me up to do a little more fishing.”

Terms of the purchase of the majority stake were not disclosed. Efforts to reach Charlie Wagner Tuesday were not immediately successful.

But as part of the deal, Charlie Wagner and Mike Carlson, the vice president and general counsel at Cayman Vineyards, have joined Dry Fly’s board of directors.

At Dry Fly, Patrick Donovan, who was the company’s first employee, will move into the role of president of the company. Terry Nichols, the vice president of sales and marketing is retiring and he’s being replaced by Donald Kidd.

Kidd has 30 years experience in the field including 11 years at Hood River Distillers/Pendleton Whisky, has also been named the new head of global sales and marketing.

Donovan, the new president, said customers will not notice anything different with the Dry Fly brands, or the tasting room at 1021 W. Riverside Ave., which could eventually include Caymus wines.

“Really what it is, is furthering our existing relationship,” Donovan said. “This industry is tough. This is a partnership that will elevate us to higher levels.”

As for the California wine maker, Caymus remains family run. It includes Chuck Wagner, his son, Charlie, and daughter, Jenny Wagner.

Caymus Vineyards has two wineries that are open to the public, one in Rutherford, in California’s Napa Valley, and the other is the Caymus-Suisun Winery in Suisun Valley.

“Assuming a bigger stake in the company speaks to my excitement over Dry Fly’s vision, passion and expertise, and its ability to make products that truly stand out in the market,” Charlie Wagner said. “I look forward to working more with the whole Dry Fly team.”

Donovan of Dry Fly, said the partnership began when Caymus planted wheat to add nutrients to one of its former orchards to prepare the soil for further development. Dry Fly then made whiskey out of that wheat.

“Their operation is amazing,” Donovan said of Caymus. “They are farmers at heart. They are a big company but very tightly run. They don’t feel as big as they are.”

Dry Fly will continue to do what it always has, he said.

Caymus “is opening doors that are difficult to open as a small distillery,” Donovan said. “It should really be a cool thing.”