Premium drinks maker Salcombe Distilling Co. (SDCo.) has launched a £5million crowdfunding campaign to fund its global growth ambitions.
SDCo. creator of two spirits brands, the multi-award winning Salcombe Gin and pioneering non-alcoholic spirit and aperitif New London Light wants to raise the cash over the next twelve months, initially through the Seedrs platform.
Interested investors who sign up before Friday April 15 will get one week of exclusive access ahead of the opportunity going live to all.
On Tuesday April 19, the crowdfunding platform will go public and will be open for a month, closing on Thursday May 19.
A similar process took place in 2019 when SDCo. reached its crowdfunding target in under 24 hours. This funding has helped the company achieve 100% growth in the last two years, make waves in the 0% spirits category, launch both its Salcombe Gin and New London Light brands in the US and create the world’s first distillery at sea.
Chairman of SDCo. Dr Nick Blazquez said:: ”Co-founders Angus Lugsdin and Howard Davies have built a strong business with good brands and a great team. I’m looking forward to seeing Salcombe Gin and New London Light, in even more outlets across the UK and indeed the world.
“This new round of investment will enable further investment in the brands and in both organisational and production capacity. This will drive sustainable growth for SDCo in the dynamic luxury spirits and non-alcoholic spirits sectors. ”
Dr Blazquez became Chairman of SDCo. in December 2020 having previously worked for Diageo, the world's leading premium drinks company, for 27 years.
Other board advisors include Chris Spalding, who began formally advising SDCo. in 2021. He brings a knowledge of the global drinks business and a deep understanding of the Americas drinks business.
Angus Lugsdin and Howard Davies started the business in 2016 and has grown rapidly with an increase in turnover of 100% in the past two years despite the global pandemic.
Mr Davies said: "The funds will allow us to take our Salcombe Gin and New London Light to an even greater audience building on partnerships we’ve already established and creating exciting new ones. We have high ambitions for continued rapid growth and with Nick in the position of Chairman, as well as this current round of funding, we have absolutely no doubt that these goals will be met.”
The business has nationwide listings at Waitrose, Majestic Wine and John Lewis and exports to the United States, the Middle East, China, Singapore and across Europe.
Its New London Light has recently gained an exclusive partnership with Virgin Atlantic Clubhouses.
