The Lakes Distillery to fast-track growth plans following £4.2 million investment
The Lakes Distillery has announced it will fast-track its growth plans following a £4.2 million investment.
The distillery secured multi-million pound funding from Comhar Capital, an investment company focused on providing capital to businesses “run by forward-thinking growth-oriented owner-managers”.
In partnering with The Lakes, Comhar (pronounced ‘core’) has invested £4.25 million of new equity to support ambitious stock build growth and capital expenditure projects.
Nigel Mills CBE, co-founder and chief executive of The Lakes, said: “Our vision is to create a global luxury single malt whisky brand. It is 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 program of capital investment which, in 2020, will see single malt whisky production treble to in excess of one 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.”
Craig Wilkinson, managing director at Comhar, said: “We are looking forward to working with Nigel and the team at The Lakes Distillery as they continue to grow the business.
“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.”
The Lakes Distillery is based near Keswick, in the English Lake District. It attracts more than 100,000 visitors each year and in September 2019 it unveiled the first in a series of single malt whisky releases.