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Cotswolds Distillery raises £1.5m for expansion
The Cotswolds Distillery’s latest equity drive has raised more than £1.5 million (US$1.8m) in one month, which will go towards the expansion of the site.
The expansion is expected to generate new jobs in the local area
The funds will be used for a variety of projects including a new bottling hall to help launch the distillery’s inaugural whisky, as well as a larger visitor centre.
Set to be released in October, the initial release of Cotswolds Single Malt Whisky – which is limited to 4000 bottles – has already sold out online.
Commenting on the investment, founder and CEO Daniel Szor, said: “We are overjoyed by this great vote of confidence in the company. Our ambitious plans for the future can now be realised thanks to the fantastic investor demand we’ve seen in this recent round.
“Premium spirits is an exciting and fast-growing sector, and we believe the opportunities for such a progressive brand, like The Cotswolds Distillery, are limitless.”
The expansion of the distillery is expected to generate new jobs in the local area.
Former hedge fund manager Szor, along with his family and local investors, pledged £5m to open the Cotswolds Distillery in 2014.
In 2016, the distillery expanded its investor base through its £1 million Angels’ Share crowd-funding campaign, to over 100 new backers.
In April last year, The Cotswolds Distillery launched a new barrel-aged gin to mark the 400th anniversary of William Shakespeare, called 1616 Gin.