Lakes Distillery offers £1m worth of shares to public
The Lakes Distillery is offering the public £1 million (US$1.3m) worth of shares to increase its production of single malt whisky.
The £1 million (US$1.3m) of shares represents the final stages of a £10 million (US$13m) Enterprise Investment Scheme and will be available in much smaller quantities via Crowdcube.
The Lakes Distillery co-founder and chairman, Nigel Mills, said: “Our first investors continue to invest but we have decided to reach out to the public, which has been so supportive in our first few years.”
The shares, which start at £10 (US$13), are designed to create a strong group of customer shareholders who the distillery hope will become an army of brand ambassadors.
Any funds raised by the investment programme will be used to build new warehouses, improve distribution facilities and produce whisky for stock.
“There is now a strong order book for our spirits, an established and repeatable trade at our distillery and the very real prospect for small investors of owning a piece of English whisky history,” said Mills. “I am confident this next round of investment will prove popular and successful, bringing to the spirits sector the innovation that has led Brew Dog to challenge the orthodoxy of big brewers.”
The distillery already sells The One, a blended whisky made from spirits produced across the British Isles, as well as Lakes Gin and Vodka. It’s these products which Mills thinks has built demand for the Lakes Single Malt long before it will be available.
The Lakes Distillery started trading three years ago and has already produced over six 600,000 bottles of whisky for retail. The distillery has since strengthened its portfolio with a number of gin and vodka brands.
The Lakes Distillery will release its first bottles of single malt whisky in 2018.