Didsbury Gin receives £420,000 investment

English producer Didsbury Gin has secured a £420,000 (US$528,800) investment to help it expand internationally.

Manchester-based Didsbury Gin, which was launched in 2017 by Liam Manton and Mark Smallwood, boasts a range of six flavoured variants.

Following a £75,000 (US$96,500) investment offer on hit BBC programme Dragons’ Den in January last year, the gin producer has received new funding from the Northern Powerhouse Investment Fund (NPIF).

In 2019, the business received £100,000 (US$126,000) from the NPIF FW Capital Debt Finance fund, followed by £320,000 (US$402,900) from NPIF in early 2020 to fulfil its orders with UK retailers and bars, including department stores Harvey Nichols and Selfridges, and pub chain JD Wetherspoon.

The firm has “ambitious plans” to expand its workforce, grow its client base in the UK, expand overseas and launch new products. Last year, the company doubled its annual turnover to £1.5 million (US$1.8m).

Since gaining the investment, Didsbury Gin has launched two new products and secured listings with supermarket chains Aldi and Co-op, in addition to a number of UK bar chains. Didsbury Gin is also set to announce a large supermarket deal in the coming months.

Currently based in a co-working space, Didsbury Gin is seeking a new site in Manchester to meet its growth and allow for future expansion.

Didsbury Gin is also in discussions with distributors in the US and will continue to expand its range. The firm will reveal new partners in the coming months.

In addition, the company has grown its team to four full-time members and recruited several consultants.

“The NPIF investment came at a pivotal time for us – we had ambitious growth plans but needed more cash up front to make it happen,” said Manton. “The funding has helped us to surpass all expectations and secure a number of significant new contracts with leading outlets, as well as bring new people on board and create new product flavours.

“To build on that momentum, we are now looking to take this success overseas and expand into wider European and US markets initially, with a long-term plan to extend that to Canada and Australia in the coming years.”

Since the Covid-19 crisis hit, Didsbury Gin has stopped its production to make hand sanitiser for Greater Manchester Police.

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Author: Nicola Carruthers {authorlink}