Langtons Gin Ltd has succeeded in raising £600,000 from private investors and the Sheffield-based Business Angel Co Investment Fund (Angel CoFund) to further develop the business.
Leeds laywers from Clarion advised on the transaction.
Langtons of Skiddaw No.1 Lakeland Gin was launched in December 2012 following a two year development from a blank piece of paper by co-founders Tim Moor and Nick Dymoke-Marr with £200,000 of funding from private individuals.
The premium gin, which originates in the Lake District using pure slate filtered water from Underskiddaw, has already secured orders with a number of leading hotel and restaurants as well as premium retail outlets.
Having completed the research and development phase of the business, additional funding was required to focus on product marketing and sales. The latest investment round raised an additional £350,000 from private individuals and £250,000 by The Angel CoFund.
Tim Moor, CEO of Langtons Gin, said:
It’s great news that we’ve been able to secure this funding which enables us to grow the business by focussing on developing the brand,” explains “Over the last three months, we have received significant levels of orders from UK customers and we recently took our first export order from Sweden. We are in discussions with companies in Japan, the USA and Spain and this funding will enable us to explore these markets.
Christian Hunt, corporate partner at Clarion in Leeds, acted for Langtons Gin in relation to the private equity investment.
Langtons Gin underwent a rigorous process to prepare for the completion of this investment round including a transition from being R&D- oriented to becoming a sales and marketing company focused on brand building. We are delighted that this investment will enable this Northern business to progress and grow.
Langtons No.1 Gin originates in the Lake District and is distilled by GJ Greenall in Warrington.