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Rockstar Spirits gains funding for new products
Manchester-based Rockstar Spirits has secured a five-figure loan from GC Business Finance to help develop new products and meet growing demand from retailers.
The Two Swallows spiced rum range
It is the third round of funding from GC Business Finance, which previously provided Rockstar Spirits with a five-figure investment in 2019 and a loan of £14,000 (US$18,000) to help establish the company in 2018.
The latest round of funding came from NPIF – BFS & MSIF Microfinance scheme, part of the Northern Powerhouse Investment Fund, which was backed by the Coronavirus Business Interruption Loan Scheme (CBILS).
The loan will help Rockstar Spirits meet “heightened demand” from its suppliers, strengthen cash flow and launch a new product, called Banana Bomb. Rockstar Spirits currently produces the Two Swallows and Grenade spiced rum ranges.
The firm has already used the funding to continue supplying its products to major retailers including Sainsbury’s, Selfridges, Majestic Wines and Amazon.
Tom Hurst, owner and founder of Rockstar Spirits, said: “As people have increasingly settled in to enjoy a drink at home during the pandemic, we’ve had to adapt our ways of working significantly. The funding from GC Business Finance allowed us to meet the growing demand from our retailers and our stockists while keeping some exciting things moving in the pipeline.
“We are really looking forward to the launch of our next new release, Banana Bomb. I’m certain that there is nothing else like this in the market so I’m confident that it will help Rockstar Spirits remain at the forefront of innovation and quality in the exciting growth category of spiced rum.”
During the pandemic, Rockstar Spirits shifted its marketing strategy from in-store samplings to price promotions in order to secure customers.
The Manchester-based business will also launch its new Passionfruit Grenade rum in Selfridges this month. Supermarket chain Booths will also stock Two Swallows Cherry from 15 August, as well as four additional products.