Created in 1872 by Taylor & WIlliams and named in honor of the national park, the Yellowstone brand has moved around from distillery to distillery since its creation. The current owner, Luxco, sources the bourbon from other distilleries in Kentucky; however, Luxco recently took a 50% stake in the Limestone Branch Distillery, run by Steve and Paul Beam.

In February 2015, the Beams put the first batch of their new bourbon in casks, which they plan to release under the Yellowstone label. The Select is a selection of casks chosen by Steve Beam to reflect the heritage of the Yellowstone name, made from four- and seven-year-old, high-rye bourbons.