Lakes Distillery hopes to raise £15m through AIM share issue
Whisky producer Lakes Distillery is exploring a share flotation on the London Stock Exchange’s Alternative Investment Market for smaller, growing companies.
The company has appointed broker N+1 Singer to advise on a potential placing with institutional shareholders that it hopes will raise £15 million.
Lakes Distillery was formed in 2011 and started production in late 2014 with the aim of creating a global luxury whisky brand.
In addition to distilling and maturing stocks of premium single malt whisky it has launched blended whiskies The One and Steel Bonnets, The Lakes gin and vodka and a range of flavoured liqueurs.
Chief executive Nigel Mills said: “The Lakes Distillery has strong brand credentials, is located in an area of outstanding natural beauty, the Lake District National Park, a UNESCO World Heritage site, and has a successful track record of innovation and brand development.
“We believe we are well positioned for growth, with multiple revenue streams, and an appreciating asset in the form of our whisky stock, developed using our multi-oak, multi-sherry led production process.
“We are exploring an IPO as a flexible source of capital to allow us to increase our production significantly, while remaining independent and focused on quality, as well as investing in our whisky stock, our sales and marketing capabilities and our distribution channels. Ultimately this will help us to achieve our ambition to build a global luxury whisky brand.”