Acre Mezcal

Acre Mezcal

Early Stage

Award-winning Artisanal Mezcal

Award-winning Artisanal Mezcal


Raised this Round: Raised: $1,183,143

Total Commitments ($USD)



Start Date


Close Date


Min. Goal
Max. Goal
Min. Investment


Security Type

Equity - Common



SEC Filing Type

RegCF    Open SEC Filing

Price Per Share


Pre-Money Valuation


Year Founded



Alcohol, Tobacco, & Recreational Drugs

Tech Sector


Distribution Model




Capital Intensity



Los Angeles, California

Business Type


Acre Mezcal, with a pre-money valuation of $10 million, is raising funds on StartEngine. It is a spirit brand that makes small-batch handcrafted mezcals. The business started as an amenity for Acre Resort but has quickly gained industry recognition. Jordan Haddad founded Acre Mezcal in November 2020. The current crowdfunding round has a minimum target of $9,999.64 and a maximum target of $1,069,991.30, and the proceeds will be used to amplify the popularity of the brand. Acre Mezcal has already reported sales of $100,000 since its launch, despite the pandemic. The four varieties of Acre Mezcal received medals at the San Francisco Spirits Competition in 2020.

Summary Profit and Loss Statement

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Net Income



Summary Balance Sheet

Most Recent Year Prior Year




Accounts Receivable



Total Assets



Short-Term Debt



Long-Term Debt



Total Liabilities



Financials as of: 12/15/2020
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Beer is Americans’ go-to alcoholic beverage. The U.S. beer market is worth more than $115 billion. However, many are noting that beer has grown less popular in recent years, and other categories of alcohol are experiencing record growth. Supplier sales of hard liquor hit $29 billion in 2019 — an all-time high. The Distilled Spirits Council of the U.S. (DISCUS) notes that sales revenue is increasing faster than the number of bottles sold, as consumers spend more to purchase premium liquors. 

One growing segment of the hard liquor market is mezcal. Mezcal, a Mexican spirit made from agave, is related to but distinct from tequila. All tequilas are mezcals, but not all mezcals are tequilas, and the two types of agave-based liquor differ in several ways. Some industry insiders speculate that mezcal will increasingly replace tequila in years to come; the global mezcal market is expected to reach $733 million by 2027 at a CAGR of almost 14%. 

Acre Mezcal is seeking a stake in this growing market. Acre is a high-end mezcal brand producing small-batch liquors produced by family agave farmers in rural Mexico. The spirits debuted as a guest amenity at the Acre Resort in Cabo San Lucas, Mexico; proprietors of the resort later spun Acre Mezcal into its own consumer brand, now distributing in the U.S. and Mexico. 

Acre Mezcal’s current StartEngine raise has been rated a Neutral Deal by the KingsCrowd investment team. 

Next Section: Price


Acre Mezcal is offering equity at a $10 million valuation. This is a high price for a young food and beverage brand. The company only generated $98,680 in revenue for 2020, so its $10 million proposed valuation represents a 100x revenue multiple — far above standard for a consumer packaged goods (CPG) brand. Therefore, Acre Mezcal’s price rating is low.

Next Section: Market


The mezcal market is undoubtedly growing. The segment is expected to reach $722 million by 2027 at a CAGR of almost 14%. However, even with this meaningful growth, the mezcal market is still niche compared to the value of other segments within the alcohol industry. For instance, compare this market size to that of beer — despite recent declines, the beer market is still worth more than $115 billion, dwarfing the market for mezcal. 

Moreover, Acre Mezcal is targeting only high-end buyers interested in mezcal. The company’s cheapest bottle sells for $50, almost twice the price of standard bottom-shelf tequilas (against which many consumers are likely comparing the product). Its most expensive bottle retails for $140. Even within the relatively small audience of consumers interested in mezcal, Acre is a niche brand. Therefore, the company’s market rating is quite low.

Next Section: Team


Acre Mezcal seems to have been originally founded by Stuart McPherson and Cameron Watt, owners of the Acre Resort in Cabo San Lucas, Mexico. The Acre Mezcal spirits brand began as a resort amenity at that property before spinning off into a separate business. It does not appear that McPherson and Watt are involved in day-to-day operations of Acre Mezcal these days, though they are board directors. 

Instead, Acre Mezcal is led by Jordan Haddad, a former finance professional turned entrepreneur. Haddad graduated with a BBA in Finance from the Stephen M. Ross School of Business at the University of Michigan. He later joined Lazard as a financial analyst before transitioning to Oaktree Capital Management as a High Yield Bond Associate. Haddad reports that he found his career in finance unfulfilling and was looking for a change when he discovered the Acre Resort in Cabo and met McPherson and Watt. He’s run Acre Mezcal ever since (beginning in 2018). 

The Acre Mezcal team also includes Marijke Uleman and Erika Bautista, the company’s Head of Marketing and Strategy and Director of Advocacy respectively. Uleman and Bautista are co-founders of The MezGals, a “mezcal tasting and education group,” and are deeply passionate about the agave-based spirit. Both have many years’ experience in marketing, having worked with clients like Heineken, Nestle, and Clorox. 

The Acre Mezcal team is clearly passionate about their product and committed to the company’s mission of keeping mezcal production sustainable and beneficial to rural Mexican agave farmers. However, the team lacks formal experience as entrepreneurs or alcohol industry executives. Therefore, Acre Mezcal’s team score is its lowest across all five metrics. 

Next Section: Differentiators


Acre Mezcal is certainly differentiated from mainstream alcohol producers in that the company produces small-batch, artisanal spirits deeply rooted in Mexican traditions of agave-growing. This DNA is markedly different from the Anheuser-Buschs of the world. However, it doesn’t actually distinguish Acre Mezcal much within the landscape of mezcal producers. Mezcal is an emerging category of liquor, and thus there are few major players within the space. The vast majority of mezcal is currently sold by small producers. 

As Acre Mezcal itself acknowledges in its raise materials, the mezcal space is very fractured with intense competition among a number of new, small brands. In the context of this space, Acre is not particularly well-differentiated. All in all, the company does have a distinct brand identity in the broader alcohol industry, but may struggle to stand out among a number of other small-batch mezcal makers. Therefore, Acre Mezcal’s differentiation rating is middle-of-the-road.

Next Section: Performance


Acre Mezcal has only been in existence for two years, and only began U.S. distribution in 2020. Therefore, it’s impressive that the company’s revenues have grown meaningfully each year. Acre generated over $59,000 in revenue in 2019 — its first year of operations — then posted near-100% year-over-year growth as it grew to nearly $100,000 in revenue in 2020. In addition, Acre Mezcal was quite profitable in 2019 (more than $20,000 in net income compared to $59,000 in revenue). The company lost profitability in 2020, but still posted a net income of only -$14,000 last year despite COVID difficulties. The company’s financial performance has been strong in its short existence, and thus Acre Mezcal’s performance rating is very high.

Next Section: Other

Bearish Outlook

While Acre Mezcal’s early growth has been promising, both the company and the mezcal industry more broadly are still very young. It’s difficult to predict whether or how Acre Mezcal will achieve differentiation from a large number of other artisanal mezcal brands. In highly competitive scenarios like these, operational excellence is often a deciding factor in a company’s success. The Acre Mezcal team does not include any proven entrepreneurs or operators, which could hamper the company’s growth. 

These potential risks are all the more concerning given Acre Mezcal’s extremely high valuation. The company will need to grow significantly to justify this valuation. Otherwise, investors might have a hard time reaping a return. 

Next Section: Bullish Outlook

Bullish Outlook

Acre Mezcal has the chance to emerge as the leading artisanal mezcal brand just as mezcal hits mainstream in the U.S. and abroad. The company has already received impressive awards within the spirit industry — including a Double Gold medal at the 2020 San Francisco World Spirits Competition — and generated almost $100,000 in revenue last year after its launch in the U.S. market. While the company is still very young, these signals indicate that its product is distinctive among the landscape of mezcals. 

In addition, Acre Mezcal is approaching its growth plans with a unique focus on becoming a lifestyle brand, not just a liquor company. Drawn from the brand’s roots at a high-end resort in Mexico, Acre plans to open additional live tasting experiences and forge partnerships with personalities in music and entertainment to build valuable brand recognition. Growth that the company has already achieved, plus these promising opportunities, could yield a well-known and valuable brand in the near future.

Next Section: Executive Summary

Executive Summary

Acre Mezcal is a small-batch, artisanal mezcal company with distribution in the U.S. and Mexico. In just two years of operations, the company has garnered several liquor industry awards, and generated almost $100,000 in revenue in 2020 despite COVID’s impact on the bar and restaurant industry. 

On the other hand, the mezcal space is relatively niche and very fractured. Acre’s products are quite expensive, meaning that their target audience is niche within a niche. It’s not clear whether Acre’s spirits are obviously differentiated from other artisan products, and it’s too soon to tell whether the company can emerge as a leader in this emerging market. Therefore, Acre Mezcal has been rated a Neutral Deal. 

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Acre Mezcal on StartEngine
Platform: StartEngine
Security Type: Equity - Common
Valuation: $9,995,296
Price per Share: $9.94

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