Lakes Distillery offers public the chance to buy £1m of shares

Paul Currie with The One

Lakes Distillery offers public the chance to buy £1m of shares

The Lakes Distillery, based in the Lake District National Park, is offering the public £1m worth of shares.

The £1m of shares represents the final part of a £10m EIS capital investment programme that has already attracted significant interest. It will be available in much smaller quantities via Crowdcube, which allows a minimum investment of £10.

The offer is designed to create shareholder customers who will also become ambassadors for the business. It uses a similar technique that has been deployed successfully by the craft beer sector, notably by growing challenger brewery Brew Dog into a $1bn brand.

The Lakes Distillery started trading three years ago and has already produced £30m worth of whisky, and exported to the Far East and Australia.

In addition to producing spirits for sale and export, the Lakes Distillery has become a tourist attraction, receiving in excess of 100,000 visitors a year to their visitors centre and Bistro.

The Lakes Distillery is already delivering significant financial results in their first three years, with turnover is expected to be more than £5m for 2017

Its ecommerce webstore is also up 75% on 2016, and turned over £750,000 last year on bottle sales, tours and membership clubs.

Managing director and co-founder of the Lakes Distillery, Paul Currie, said: “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.

“We have tackled the launch of new spirits brands differently by becoming a tourist destination in our own right, a community based restaurant business, niche exporter, and successful e-retailer, while allowing our core product, the Lakes Single Malt, to mature for its market launch from 2018.

“By introducing the world’s first blended whisky, The ONE, made from spirits from around the nations of Britain, together with the Lakes Gin and Vodka, we established demand for the new Lakes Single Malt years before it becomes available.”

Co-founder and chairman Nigel Mills said: “Our first investors, made up of high net worth individuals, continue to invest but we have decided to reach out to the public, which has 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. 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.”