Yes. When Joseph Rutherford went from Boonville, Missouri, to become Watchtower president he was against the prohibition of alcoholic drink and it often came into Bethel headquarters out of Canada. So that's been policy from the early 1900s. Beer and wine are common at wedding parties held for Jehovah's Witness newly-weds.
Third president of the Watchtower Society was Nathan Knorr who also drank and began large purchases of stock, although Rutherford had written against "big business" even while building a big religious book publishing business of his own.