It has appointed N+I Singer as its nominated adviser and broker in relation to a possible admission and a potential fundraising, by way of a placing with institutional shareholders, to raise up to £15m of growth capital in the latter part of 2018.
The business reported that a meeting had been convened for later this month, at which various resolutions needed to enable the IPO to take place are to be put to the company’s shareholders for approval.
Founded in 2011 and commencing operations in 2014, The Lakes Distillery has built a portfolio of premium spirits including The ONE, Steel Bonnets, The Lakes Gin and The Lakes Vodka, as well as a range of flavoured liqueurs.
Nigel Mills, CEO of The Lakes Distillery, 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, whilst 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.”