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Durham secures £250,000 investment

Published:  21 September, 2017

Craft distillery Durham has received a £250,000 investment from the Finance Durham fund managed by Maven Capital Partners.

The investment will allow the business to relocate to central Durham to accommodate greater production capacity and storage facilities.

The new site will include a new visitor centre that will offer guided distillery tours as well as the ability to host events.

In addition, it would support the launch of Durham Whisky, the North East’s first Whisky to date, said the distillery, which was founded in 2014 by former NHS chief Jon Chadwick.

“It has been a fantastic process working with Maven’s local team, which has a long-standing experience in assisting start-ups like ourselves go from strength to strength,” said Chadwick.

Maven, he added, had taken time to understand the business and its particular needs thoroughly, tailoring the investment to support its growth strategy. 

Durham, which is a small-batch craft distillery that creates spirits using a 400 litre copper pot to produce its gin and vodka and liqueurs, supplies national retailers such as Fenwick and Majestic Wines. 

The investment into Durham Gin is the first deal from the £20 million fund set up by Business Durham, part of Durham County Council.

It is managed by Maven Capital Partners, the private equity house and SME finance provider, to support the growth of high potential businesses located in, or looking to relocate to the county.

Michael Vassallo, investment director at Maven, said: “This is an exciting business consisting of driven and passionate individuals, with a product tailored to an increasing market demand. As the first of many growing businesses the fund will support, we look forward to helping Durham Gin in their quest to become the region’s distiller of choice.”