British whisky producer The Lakes Distillery is planning to raise £15m with a public offering on AIM.
The distillery, which is located in Setmurthy in the Lake District, today announced it is exploring a public offering for later this year, having appointed broker N+1 Singer.
Founded in September 2011 by Paul Currie, the company is behind brands like Steel Bonnets, The Lakes Gin and The Lakes Vodka.
The company's spirits are also sold by retailers including Tesco, Aldi & Amazon.
The distillery also holds the world record for the most expensive bottle of English whisky sold at auction, £7,900 in July 2018, and the most expensive of bottle of whisky from a new distillery.
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Nigel Mills, chief executive 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.”
The Lakes Distillery's directors include Dr Alan Rutherform, who was Diageo's production director between 1989 and 2000, former Glenmorangie CEO Paul Neep and Gregg's finance director Richard Hutton.
The company’s shareholders will meet towards the end of September to vote whether to proceed with the initial public offering.
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