Tattersall Distilling secures US$3m equity raise

US distillery Tattersall Distilling has completed a multi-million-dollar equity raise to boost capacity and enter new markets.

The funding, which is up to US$3 million, will allow the Minneapolis-based distiller to increase production capacity for its whiskey portfolio, hire additional sales people in key US markets and expand its site at the Thorpe Building.

Tattersall will add 7,000 square feet to its site, bringing the total space to just under 40,000-square-foot. The extra space will be divided between a 2,000-sq-ft event space and a new barrel room. The additional storage need was due to “recent production increases” because of more cooking, fermenting and distilling equipment.

The additional barrel space allows the firm to more than double its current storage, which includes just over 1,000 barrels ageing on-site. It will also allow Tattersall to focus on its whiskey portfolio, and allow for “additional experimentation and production of aged spirits”.

Tattersall is also constructing an airport tasting room at the Minneapolis-Saint Paul International Airport, which will open in October 2019. Located in Terminal 1, it is modelled after Tattersall’s cocktail room.

The firm will also announce the launch of two new products this autumn.

Three regional salespeople will join the Tattersall team, focusing on the Upper Midwest, greater Chicago and Milwaukee, as well as Tennessee and Kentucky.

Tattersall’s products are currently available in 23 states, with new markets to be announced later this year.


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Author: Nicola Carruthers {authorlink}