New products to boost distiller's revenues by 50%
A family-owned spirits manufacturer will launch a range of new products after investing in a new still, with the support of a funding package from Lloyds Bank.
Read time: 5 mins Added: 29/05/2019
Colwith Farm Distillery is based on a potato farm in Lanlivery, Cornwall, that has been in the Dustow family for five generations.
It developed its plough to bottle distillery in 2018 to tap into growing demand for craft spirits, sales of which have increased by 267% over the last decade.
It now uses 200 tonnes of potatoes a year to make its own single estate vodka and gin, which is sold to retail outlets, pubs and restaurants throughout the West Country.
The farm has also recently introduced gin-making masterclasses and distillery tours to the public.
Backing new product development
The funding is being used to buy a new Genio still, which will support the launch of four new products, including rhubarb gin, rose and hibiscus infused vodka, vanilla vodka and classic dry gin, which are expected to boost annual turnover by 50%.
The business also plans to increase its headcount by a further 25% over the next 12 months.
"Thanks to Lloyds' financial backing, we're able to continue investing in our product portfolio to offer our customers new, exciting flavours."
Steve Dustow, director, Colwith Farm Distillery
Steve Dustow added: "There has been a surge in demand for artisan spirits over the last five years."
"We saw an opportunity to make the most of this as the potatoes we grow are one of the key ingredients for distilling alcohol.
"Our gin has received a really positive reception since we started selling to the public last summer."
"Colwith Farm Distillery is a prime example of a business that spotted an opportunity in an adjacent sector, leveraging its current proposition."
Jeremy Weekes, agricultural relationship manager, Lloyds Bank Commercial Banking
Capitalising on growing demand
Jeremy Weekes added: "We are committed to being by the side of business, and with the funding in place we envisage great success for Colwith Farm Distillery in the coming years as demand for its quality spirits continues to rise."
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