Hernö Gin to sell shares on stock exchange
Swedish gin brand Hernö will sell shares on a regulated market to support its expansion plans.
By Melita Kiely
The board of Hernö Gin has agreed to list the company’s shares within three years.
As part of the process, the gin brand is inviting existing shareholders and members of the public to acquire shares from today.
The share issue aims to spread the ownership before the stock exchange listing.
The funds raised from the sale will go towards two projects, including opening Hernö Gin Bar in more cities following the success of Hernö Gin Bar in Stockholm.
Furthermore, the money will also be invested in solar power in Dala to provide the distillery with all electricity needed to create the gin. The brand will reach 80% of this target in 2022, it said.
In January this year, the Swedish brand released a sloe gin matured in juniper wood casks. It followed new listings in the UK with retailers Ocado and Waitrose.
The brand also launched a national Gin & Tonic Day in Sweden in 2021 to coincide with its anniversary.
In the December 2021 issue of The Spirits Business, we asked whether the flavoured gin trend has staying power and how producers are planning to develop this part of the market.
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