An award-winning Yorkshire gin-maker has launched a crowd-funding campaign to promote sustainable growth and to encourage investors to become part of its flourishing operation.
Whitby Distillery’s campaign will support its planned expansion through trade, retail, tourism and export.
The gin-maker’s £400,000 equity crowd-funding campaign is being run by crowd-funding specialists Seedrs. Registration via the Seedrs website (www.seedrs.com) is now live (April 2024). And, as part of the Enterprise Investment Schene (EIS), investors can claim 30 per cent tax relief where eligible.
Whitby Distillery, makers of Whitby Gin, was founded in 2017 by Jessica Slater and Luke Pentith who have grown their business from a passion project to one whose gin stocked in more than 200 outlets across the UK.
Luke Pentith explained: “Our equity crowdfunding raise on Seedrs will see us selling a small amount of the business through shares to our customers and to the general public. We believe this is a wonderful opportunity to become involved in our flourishing business, which has shown sustainable growth year and year and has tremendous potential.”
One of Whitby Gin’s key projects over the next couple of years is to renovate two derelict barns at Abbey Lands on the south-west corner of the Whitby Abbey grounds. This has planning permission and a 100-year lease agreed.
“This isn’t just about raising funds, it is an invitation to be an integral part of our growth and to own a piece of the dream. Once our new distillery is fully operational, we anticipate the business will grow by 500 per cent over the next five years.
“We will be creating one of the most iconic distillery visitor experiences in England, positioned on one of the UK's most beloved and popular coastal locations and providing high-quality leisure and function space for the local community to enjoy.
“There is a huge opportunity for a destination gin distillery in Yorkshire. The gin market in the UK is flourishing, with a 50 per cent increase expected between 2023 and 2028. By 2028, the market’s value is predicted to be £3.18bn.
Jess continued: “The opening of our distillery and visitor centre will be a complete game-changer for us, amplifying our brand across the UK, allowing us to reach more hearts and glasses, unleashing a wave of innovation and crafting exciting new spirits and products that will leave a lasting impression.
“Whilst we have been very happy in our current premises in nearby Botany Way, our new home will take Whitby Distillery to the next level, stepping up production and giving visitors the opportunity to see us distilling and bottling through the week with our tour experiences.
“It is an honour and a privilege to be restoring these derelict buildings on such a world-famous site. For us, this is all about launching an amazing adventure on the atmospheric North Sea coastline, with tremendous knock-on effects for the local economy.
“Our new eco-friendly and sustainable distillery is a serious commitment to Whitby. We are making a significant investment into the local community and the future of the town. Once complete and established, we anticipate up to 25 employees.
“As well as the distillery, our plans include the visitor centre, which will showcase our production process and our various spirits, as well as paying homage to the amazing cultural heritage of Whitby and providing an educational and corporate business space,” said Jess.
Whitby Distillery’s products are crafted using hand foraged botanicals from the Yorkshire coast and moorland and more than 1000 bottles of it are sold every week. It was already won a raft of awards, including the Best British London Dry Gin category at the World Gin Awards.
Luke added: “Our new Whitby Distillery is designed to be an inspirational building that has minimal environmental impact. We are taking a ‘fabric first’ approach to refurbishment to improve the energy efficiency. Wastewater from the distilling process will be used where possible to irrigate plants and the vegetated roof.”
Whitby Distillery is holding Information Evenings on this crowd-funding campaign at their HQ at 8 Botany Way, Whitby YO22 4QX on April 30 at 7.00pm as well as a Zoom meetings.
