Winchester Distillery announces crowdfunding to support expansion
Winchester Distillery has revealed, in the run-up to its fifth birthday, its exciting plans for expansion.
External investment is being sought for the first time to support this growth and Founder Paul Bowler, currently sole owner of Winchester Distillery, has decided to offer equity in the business via CrowdCube, the UK’s most popular crowdfunding platform.
Production of the range of gins, such as Hampshire favourites, Twisted Nose Watercress Gin and Winchester Dry Gin, is reaching capacity at peak times throughout the year so installation of a higher volume still is required to continue to grow the business.
Movement into new product lines such as rum and whisky, both of which have been in development over the last year, will also be able to commence once a brewhouse is created onsite. Hampshire-grown malted barley will be used to create the base spirit for gin, vodka and whisky, as well as processing molasses to make rum.
Paul Bowler commented: “With Winchester Distillery’s fifth birthday in May we are delighted to be in the position, with our annual average sales growth of 82% year on year, to take the business to the next level. Having more capacity will mean we can make more of our well-loved spirits so we can enter new markets both here in the UK and overseas.
“We also intend to upgrade the current space here amongst the watercress beds in Old Alresford so that we can host more visitors for tours and tastings, and open a gift shop.”
Not only are UK gin sales continuing to grow (19 million more bottles of gin sold last year compared to 2017 according to the Wine and Spirits Trade Association) but rum is also growing in popularity with sales increasing in both retail and licensed premises. It couldn’t be better timing for Winchester Distillery to launch its range of rums.
For more information about Winchester Distillery’s crowdfunding campaign and how to invest in Winchester Distillery from just £10, please visit http://crowdcube.com/winchesterdistillery. £375,000 for 8.1% equity is the amount of investment being sought. All administration, payments and share certificates for this process will be managed and run by Crowdcube. N.B. To ensure compliance with FCA regulations, it must be made clear that investments of this nature carry risks. Please Invest Aware.