A Manchester-based gin, vodka, rum, vermouth and absinthe maker has opened talks with private equity investors to raise an extra £3m to develop a ‘super distillery’ for its new whisky line.
The Spirit of Manchester Distillery is drawing up plans for a 15,000 sq ft whisky distillery and visitor attraction on the outskirts of Greater Manchester.
Founded in 2016, the company’s current £1m distillery in Watson Street, Manchester, is capable of producing over a million bottles a year of its spirits, which include One-Eyed Rebel Spiced Rum, Forty-Five Vermouth and Manchester Gin.
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The business became the 41st English whisky distillery in the UK with the launch of its OnePointSix English Whisky which was casked this month.
The Spirit of Manchester Distillery said the move is its biggest product investment since it was founded.
The company said the new distillery will be developed over the next three years and will aid the production of 500,000 bottles of OnePointSix whisky per year.
It added that the firm’s revenues are forecasted to rise by 300%.
The distillery will also launch a Founders Club membership scheme and investment opportunities to allow private individual investors interested in the collectibles market to invest in full or quarter whisky casks.
Co-founder Jen Heeley-Wiggins said: “We are seeking investors who share our passion for the English premium spirits market, and who can help us unlock the potential of the brand equity we have developed over the past six years.
Jen and Seb Heeley-Wiggins of The Spirit of Manchester Distillery (Image: Darren Robinson Photography)“Our portfolio is one of the most awarded in the UK premium spirits sector, and combined with our clear exporting successes, we have developed a strong and viable business model which is ripe for expansion.
“This is a pivotal moment in our business history and I am confident that, at this stage of our journey, now is the right time to bring outside investor expertise on board.
“We will carefully consider the options we currently have on the table, and those which come to us over this critical next quarter.”
Earlier this year, the company announced a 200% increase in export sales for 2022, having signed new partnership deals in South America and across Northern Europe for its Manchester Gin range.
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