Belfast: Titanic Distillers has received a £5 million equity investment from Whiterock Finance to boost its sales team and expand into new markets, including a focus on the US and Europe, while enhancing travel retail visibility with plans for critical distribution channels.
Titanic Distillers, a prominent whiskey manufacturer located in Belfast, has announced plans to enhance its international footprint following the acquisition of £5 million in equity investment from Whiterock Finance, a Belfast-based fund management company. The investment was secured to bolster the distillery’s sales team and propel growth into new geographic markets, alongside the establishment of critical distribution channels.
Launched in 2023 at the historic Thompson Dock, Titanic Distillers is notable for being Belfast’s first functional whiskey distillery in nearly 90 years. The distillery boasts a diverse portfolio, which includes premium blended and pot still Irish whiskey as well as its proprietary Irish vodka, crafted from sugar beet under the watchful eye of head distiller Damien Rafferty.
Key stakeholders in Titanic Distillers—Peter Lavery, Stephen Symington, and Richard Irwin—initially invested around £8 million into the whiskey venture, situating it within the listed Thompson pump house located in Belfast’s Titanic Quarter. The team had previously received debt funding from Whiterock in 2022, which facilitated the distillery’s fit-out and launch.
The recent funding is part of Whiterock’s Growth Capital Fund and represents a strategy shift aimed at expansion. Among the new appointments to the Titanic Distillers team are Colin Green, a former commercial director at Diageo Ireland, and JC Rice, previously the head of sales for Tennent’s NI. Their expertise is expected to play a crucial role in expanding the company’s market presence.
Despite challenges posed by potential new tariffs in global markets, Titanic Distillers has revealed ambitions to establish a dedicated US team in the forthcoming months. This team will first focus on states including New York, New Jersey, and Pennsylvania, with aspirations of extending their reach across the country thereafter.
Additionally, the company is looking to boost its visibility in the travel retail arena through partnerships with duty-free specialists. It also aims to enhance its foothold in Europe, particularly in markets such as France and Germany, with plans to pursue growth in neighbouring regions like Belgium and Poland.
Chief Executive Stephen Symington highlighted the significance of the equity investment, stating, “This equity investment will help fund the next phase of growth for Titanic Distillers.” He further noted the benefits brought by Colin Green and JC Rice as pivotal in driving sales within new and existing markets.
David McCurley, representing Whiterock, underscored Titanic Distillers’ achievements in both the drinks and tourism sectors in Belfast, citing their impressive growth. He expressed optimism about supporting the company’s plans for market expansion, reflecting confidence in the team’s ongoing hard work and dedication.
Source: Noah Wire Services
