Introducing a new bourbon brand is not something any of the big distillers in Kentucky take lightly. Consider Brown-Forman, for example. They’ve done quite well with Old Forester and Woodford Reserve, so you have to imagine the surprise when it was revealed this week that a third bourbon label, Coopers’ Craft, will be joining the family as the first new label in some 20 years.

Brown-Forman Coopers’ Craft is a bourbon designed to celebrate “the company’s more than 70 years of barrel-making and…