By Tabitha Evans Moore
Editor & Publisher

WINCHESTER, Tenn. — The court-appointed receiver overseeing Uncle Nearest, Inc. signed a letter of intent on Friday to sell substantially all of the company’s assets to a confidential buyer described in a federal court filing as an investment firm with Black ownership and leadership, according to a notice filed June 1 in the Eastern District of Tennessee.

Receiver Phillip G. Young, Jr. signed the non-binding letter of intent on May 29. The filing states that a formal asset purchase agreement is expected within approximately 45 days. The sale would require approval by the court before it is finalized.

The buyer has requested confidentiality until a formal purchase agreement is executed, but permitted the receiver to disclose limited details. According to the filing, the purchaser has indicated its intention to maintain the brand’s existing workforce, expand sales through strategic partnerships, and honor the cultural significance of the Uncle Nearest brand. The buyer also expressed a commitment to the legacy of Nathan “Nearest” Green, the formerly enslaved man credited with teaching Jack Daniel how to make whiskey and recognized as the first African-American master distiller on record in the United States.

The letter of intent covers assets of Uncle Nearest, Inc., Uncle Nearest Real Estate Holdings, Inc., and Nearest Green Distillery, Inc. — the three entities at the core of the receivership estate. Excluded from the proposed sale are the real property in Martha’s Vineyard, any assets of Grant Sidney, Inc., and receivership property located in Cognac, France.

Uncle Nearest has been under federal receivership since August 2025, when U.S. District Judge Charles E. Atchley, Jr. granted an emergency motion by Farm Credit Mid-America, PCA — the company’s primary lender — finding that its collateral was at imminent risk. Farm Credit claims Uncle Nearest owes more than $120 million under a 2022 credit agreement.

In a 62-page order issued May 26, Judge Atchley denied a motion by company founder Fawn Weaver and her husband Keith Weaver to end the receivership, finding Uncle Nearest insolvent under both cash flow and balance sheet measures and citing what the court described as fraudulent conduct related to the concealment of a $20 million loan from Farm Credit. The court also expanded the receivership to include Grant Sidney, Inc., Fawn Weaver’s personal holding company, which it found was used to move funds beyond Farm Credit’s reach.

The Weavers filed a notice of appeal to the Sixth Circuit Court of Appeals on May 27 — one day after that order and two days before the receiver signed the letter of intent. The receivership and the sale process are continuing notwithstanding the pending appeal.

What Comes Next

The receiver’s filing does not disclose a purchase price. Under the receivership order, any sale of assets requires court approval. Once a formal asset purchase agreement is signed — expected within 45 days of the letter of intent — the receiver will seek that approval, at which point the buyer’s identity and the terms of the deal are expected to become public.

The Weaver appeal, now pending before the Sixth Circuit, could complicate the court approval process depending on its timing and any motions for emergency relief the Weavers may file. No such motion has been filed as of this writing.

Uncle Nearest Premium Whiskey was founded in 2017 to honor the legacy of Nathan “Nearest” Green and has grown into one of the most recognized American whiskey brands. The Nearest Green Distillery operates in Shelbyville, in neighboring Bedford County. •

About the Lynchburg Times: The Lynchburg Times is Moore County’s locally owned, independent news source. Our reporting is supported by readers, small business partners, and underwriters who believe community journalism matters. If this story was valuable to you, consider becoming a supporter at lynchburgtimes.com.