Crafting history and making waves on North Yorkshire's coast.
Business overview
| Location | Whitby, United Kingdom |
|---|---|
| Social media | |
| Website | www.whitbydistillery.com |
| Sectors | Food & Beverage Non-Digital Mixed B2B/B2C |
| Company number | 10989129 |
| Incorporation date | 29 Sep 2017 |
Investment summary
Business highlights
- £1.15M Gross Sales in 2024 with £243k EBITDA*
- Maintained robust 35.72% annual sales growth rate
- UK's highest-rated distillery on Trustpilot
- 1% for the Planet: Coastal conservation & RNLI
Key features
Pitch
About the Campaign
Where craftsmanship meets coastal passion.
Founded in a utility room in 2017, Whitby Distillery has grown to become a multi-award winning brand with gross sales of £1.15M in YE Feb 2024*. We’ve been profitable since launch achieving a CAGR of 35.95% so far, and we’re only just getting started.
We’ve recently secured a 100 year lease on the site for a new distillery in the shadow of Whitby Abbey, and are now raising funds to accelerate our growth at this pivotal time for the business.
Join us on our mission to honour our coastal heritage and ignite change, all whilst creating exceptional spirits.
Market Opportunity
The UK gin market is set to grow by over 45% to £2.34B by 2028. With premium offerings driving this surge, we stand out with our multi-award-winning products.
With 8.7M tourism visits to North York Moors National Park per year, our future site next to Whitby Abbey is strategically positioned for growth.
Consumers are increasingly seeking brands aligned with their values, prioritising environmental consciousness. Our mission resonates perfectly, appealing to the eco-conscious consumer.
Traction & Key Accomplishment
• Achieved £1.15M Gross sales in year ending Feb 2024*.
• Listed in over 200 independent retailers across the UK.
• Produced over 250,000 bottles with in-house manufacturing and distribution.
• Maintained a strong 35.72% CAGR (Compound Annual Growth Rate).
• Strong online presence and successful web store driving D2C revenue.
• Skilled and flexible team across working across all operations.
• Quick return on cash - Manufacture to Payment received within 45-day cycle.
• Average online order value of £56, reflecting customer engagement and loyalty.
• £20,000 donated to charities, demonstrating social responsibility.
*Based on unaudited management accounts.
Team
Luke Pentith - Co-Founder - Extensive experience within FMCG Operations including Head of Continuous Improvement at Kraft-Heinz.
Jessica Slater - Co-Founder - Previously Corporate Business Planning Manager at General Medical Council.
Business Model
Trade: Over 50% of sales through a growing network of 200+ independent retailers,
D2C (Direct-to-Consumer): 40% of sales through online, retail, tours and events with <7-day sale-to-payment cycle, maximising cash flow.
Tours: We already successfully run Distillery Tours from our Botany Way site, and the completion of the new distillery represents a significant potential to increase this revenue stream. With the new site we aim to target 30,000+ visitors annually by 2028, leveraging experiential marketing to elevate the brand.
By controlling operations and diversifying revenue, we mitigate risks and capitalise on market opportunities.
Use of Funds
Raising funds to fuel Whitby Distillery's growth, with this investment we intend to drive sales growth, expand market reach, and capture a greater share of the premium spirits market.
- Production expansion
- Marketing: enhance visitor experiences
- Working Capital to fuel our continuous business growth
- Operational efficiency projects
- Team development: Investing in internal capabilities
- Prepare markets for export expansion
- Packaging development: New eco gift/ transit packaging
Key Information
Material Debt:
The Company has the following outstanding debt and overdraft facilities :
1. £600,000 RLS loan from Virgin Money at an interest rate of 2.99% above Bank of England base rate. The loan was entered into in June 2022 and is to be repaid by June 2028. The current amount outstanding is £441,666.73. The loan has a charge over company assets.
2. £600,000 Virgin Development overdraft facility at an interest rate of 3.5% above Bank of England base rate. The facility is yet to be used.
3. Hitachi Asset Finance Loan of £50,000 at an interest rate of £997. The loan is repaid in monthly installments of £997 and currently has £13,935.43 outstanding.
The funds raised from this investment round will not be used to repay these loans.
Investor Perks
Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company and listed above. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.
Open an account to get access to the team members of Whitby Distillery
Already have an account? Log in
To comply with financial regulations, we can only show full campaign details to registered users.
Only shareholders can access this page
If you successfully purchase a share lot of this business, you will be granted access.
Buy sharesOnly shareholders can access this page
If you successfully purchase a share lot of this business, you will be granted access.
Buy sharesOnly shareholders can access this page
If you successfully purchase a share lot of this business, you will be granted access.
Buy sharesOnly shareholders can access this page
If you successfully purchase a share lot of this business, you will be granted access.
Buy shares