Spirits group Hoxton targets £4million fundraising for international expansion
The new deal would value the company at £35.5million.
Premium flavoured spirits group Hoxton is looking to raise millions from investors to fund its overseas expansion, founder and chief executive Gerry Calabrese says.
He said that Hoxton aims to raise £4million by selling shares to investors in a deal that values the company at £35.5million.
Aside from funding the development of new products, he said it will finance its entry into “lighthouse” overseas markets that will serve as a springboard for international growth.
Those markets include Italy, Thailand and Australia, where it has sealed a deal for its spirits to appear on the shelves of Coles, the largest supermarket group in the country.
Available through its online store, Amazon, and specialists such as Master Of Malt, Hoxton’s range is comprised of three flavoured gins, a London Spritz, a banana rum and a spiced whisky.
This year it secured a listing for its London Dry Gin at selected branches of Sainsbury’s.
Hoxton was founded in 2011 by hospitality veteran Calabrese, who said: “Targeting international markets is a goal as we believe that, while our roots lie in east London, there is demand everywhere and a gap for an expertly created product like ours.”