Spirits lovers are being offered the chance to own a stake in a Cumbrian distillery after making £1m worth of shares available for sale.
The Lakes Distillery made the shares available on Monday (November 6) as part of a £10m government Enterprise Investment Scheme.
The investment will be used to produce the distillery’s award-winning spirits and expand warehouse and distribution facilities at its site at Setmurthy, on the shores of Bassenthwaite.
Founded in 2014, the Lakes Distillery has proved a spectacular success story, with around 160,000 bottles from its portfolio of premium spirit brands, including Lakes Gin, Lakes Vodka and ONE British Isles Blended whisky, sold around the world.
Meanwhile £1.6 million has been spent producing 600,000 bottles of Lakes Single Malt whisky with a retail value of £30 million, with the first supply being launched in 2018 for sale in high street UK outlets and in major export markets, including the Far East and Australia.
At the same time the distillery and its Michelin guide recommended bistro has become a Top Ten Lake District tourist attraction, with over 100,000 visitors each year. Turnover in 2017 is expected to be in excess of £5m.
Founder Paul Currie said: “Our first investors, made up of high net worth individuals continue to invest, but we have decided to reach out to the public, who have been so supportive in our first few years.
“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.”
The public will be able to buy £10 shares through the Crowdcube crowd funding site. Immediate benefits include free tours at the distillery and discounts off the Lakes Distillery range.
Mr Currie added: “The Lakes Distillery is a unique British enterprise, challenging established distillers with a range of new products crafted in the Lake District National Park by a business owned by a new cohort of entrepreneurs.
"Our mission is to make people as passionate about our spirits as we are.”
Last month, the Lakes Distillery teamed up with The Pip Stop in County Durham - the retail division of Lanchester Wines, to create their first ever joint retail store over in the north east this Christmas. You can read more about that here at The Bay Business, here.