Boatyard Distillery receives £634,000 investment
Established in 2016, The Boatyard Distillery is a family-operated spirits producer based in County Fermanagh, Northern Ireland.
It became the first working distillery in the region for more than 130 years when it launched and is situated in a disused boatyard. The Boatyard Distillery’s portfolio includes three core spirits: Boatyard Double Gin, Boatyard Old Tom Gin and Boatyard Vodka.
The £634,000 (US$800,000) investment round was made through the Halo Business Angel Network (HBAN) from private investors and Co-Fund II.
Joe McGirr, founder of The Boatyard Distillery, said: “We are really pleased to secure this investment and excited about the unique experience our new investors will bring, particularly when it comes to growing our presence overseas. The gin market remains highly competitive but we offer something different, with some botanicals grown on the family farm.”
Of the total investment, £460,000 (US$565,765) came from HBAN, a joint initiative of Invest Northern Ireland, Inter Trade Ireland and Enterprise Ireland. It is dedicated to the all-island promotion of business angel investment.
Co-Fund II is part of the Invest Northern Ireland’s Access to Finance portfolio and is managed by Clarendon Fund Managers.
Brian Cummings, investment director at Clarendon Fund Managers, said: “The Boatyard Distillery has experienced tremendous growth over the last few years. Joe [McGirr, founder] has continued to diversify the product offering and that has led to international success with a number of new global distribution deals agreed.”
The Boatyard Distillery has also begun production of a range of hand sanitisers to help tackle the coronavirus pandemic.
McGirr said: “Right now, Covid-19 has interrupted some of our immediate plans but we have responded to the situation by being innovative and using our expertise to produce a product that is not only in high demand but which our health service and key workers desperately need.
“We are pleased to play our part in the fight against Covid-19 by donating supplies to help those people on the frontline doing great work for everyone in the Fermanagh region.”
The Boatyard Distillery has listings in supermarket chains Marks & Spencer and Waitrose, and recently signed an exclusive distribution deal with drinks agency Speciality Brands in the UK.