Eden Mill St Andrews has received investment from Edinburgh-based private equity firm Inverleith, which has secured a majority stake in the company.
The craft gin and Scotch whisky brand, which is embarking on the development of its carbon neutral single malt whisky distillery on the University of St Andrews Eden Campus, was established in 2012 by Tony Kelly and Paul Miller.
The company started out producing gins, before in 2018, it launched its first limited edition single malt.
The investment from Inverleith will see the company push forward with its distillery build, which is aiming to open in late 2022, as well as expanding distribution in the UK and internationally.
Eden Mill St Andrews founder Paul Miller stated: “We have been looking for an investor who shares our passion for the Eden Mill opportunity, who understands the uniqueness of the opportunity and is aligned to our vision.
“With their consumer strategic brand and commercial expertise, I am confident that we have found the right partner to take drive and support the next and most significant stage of the journey.”
Eden Mill was advised in the transaction by Johnston Carmichael.
Miller will lead the business as managing director, supported by a new senior executive leadership team and a newly-formed board of directors, which is in the process of being established.
Inverleith managing partner Paul Skipworth said: “As a team, we have a long heritage in the development of premium spirits, both operationally and as investors, and we believe we will be a strong partner for Paul Miller and the wider Eden Mill team over the coming years.”
Inverleith invests into consumer brand companies within premium food and drink, health and wellness, lifestyle and heritage brands. It specialises in internationalising and commercialising companies.
Its partners are ex-chairman and chief executive of Noble Group, Ben Thomson, and ex-chief executive of The Glenmorangie Company and partner at L Capital (LVMH), Paul Skipworth.
Other Inverleith portfolio investments through its funds include a prior majority stake in the Artisanal Spirits Company, owner of The Scotch Malt Whisky Society, and majority stakes in: Planet Organic, Montezuma’s and Montane.
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