Sliabh Liag Distillers seeks €2m investment
Irish spirits producer Sliabh Liag Distillers is looking to raise €2 million (US$2.14m) through crowdfunding to boost its production capacity.
As part of a new equity round, Sliabh Liag Distillers will launch a Crowdcube campaign on 20 June, which will see production being carried out 24/7, and its output increasing from 440,000 litres to 600,000 litres per annum.
James Doherty, managing director, Sliabh Liag Distillers, said: “The world is once again waking up to Ireland’s whiskey prestige and demand for our style of soft drinking, hard spirits is growing fast. The role of a smoky spirit is vital in this renaissance, and now is the time to lay down stocks to fully capitalise on the opportunity ahead.”
Pre-registration is open now through www.sliabhliagdistillers.com.
The campaign has been unveiled as the demand for Irish spirits ‘explodes’, according to the producer.
Doherty added: “The demand we anticipate in the coming years means we need to invest in boosting our production capacity now to ensure we can bring as much of Donegal’s whiskey to the world as we can when demand should be at its highest. We know Donegal’s reputation is rapidly on the up, to which any of the rising numbers of tourists to our dramatic section of the Wild Atlantic Way will testify.”
In July 2020, the distillery sought €1.5m through crowdfunding, and exceeded this target two months later. The investment went towards building the producer’s Ardara Distillery, which has since has increased its global footprint to 40 countries.
The company said sales volumes for all the Sliabh Liag Distillers’ brands – Silkie Irish Whiskey, An Dúlamán Gin and Assaranca Vodka – were buoyant during the pandemic period, soaring by 166% in 2021.
Earlier this year, Sliabh Liag Distillers hired a new distillery manager.