UK-based The Lakes Distillery has secured a £4.25 million investment from Comhar Capital, as it aims to triple annual production capacity.
The Lakes, which was established close to Bassenthwaite Lake in Cumbria in 2011, makes a range of whisky, gin and vodka.
With its investment, Comhar Capital has acquired a minority share in the business. The funding will support The Lakes’ growth in maturing whisky stocks as it begins to develop internationally.
Nigel Mills, co-founder and CEO of The Lakes, said: “Our vision is to create a global luxury single malt whisky brand. It’s an ambitious goal and one which means quality is at the heart of everything we do – a sentiment very much shared by Comhar.
“The new investment will help to sustain our ongoing programme of capital investment, which, in 2020, will see single malt whisky production treble to in excess of 1 million bottles, the installation of eight new washbacks to facilitate 24-hour distillation, construction of a new racked warehouse and support for our aspiration to increase sales in the UK, Europe, Asia and the US.”
Comhar managing director Craig Wilkinson, who will join the board of The Lakes, added: “We’re really delighted to be working with the team at The Lakes and supporting them to deliver on their global growth ambitions.
“In a relatively short space of time, Nigel and the team have successfully established The Lakes brand in the market and its reputation for quality. The Lakes Distillery is very impressive and a real credit to the team.”
© FoodBev Media Ltd 2019