Deal worth £4m in sales
NB Gin launches in US and seeks funding partner
Steve and Vivienne Muir: seeking a partner for expansion (photo by Terry Murden)
Scottish gin producer NB Distillery has announced its launch into the US market and is seeking an investment partner for further expansion.
The deal with Total Wine & More, the largest drinks retailer in the country, will see two of its gin brands set to be rolled out across 20 states and is expected to be worth more than £4 million in sales over the next five-years.
The North Berwick company is also seeking an investment partner to help support its ambitious marketing plan.
Co-founder Vivienne Muir said: “This is only the start of our US journey, and as such we are keen to invite investment discussions to the table to help develop this opportunity even more and tap into the potential our proposition brings.
“We want to expand distribution even more, build the brand and overall maximise the platform Total Wine has provided us with.
“We are extremely passionate about our products and would now like to work alongside like-minded people who want to become part of our journey, who can help strengthen the US business and work with us to drive it forward.”
Two products will initially be introduced to 80% of Total Wine’s stores across New York, New Jersey, Florida and California, with plans to expand the range across additional states later this year.
With NB set to open a bespoke distillery and luxury visitor centre next month, the listing comes at a key time as the company switches to a 24-hour production process.
Mrs Muir, who launched the business with husband Steve, said: “We have been evolving and expanding throughout Europe and Asia in recent years, and to have the interest and ‘thirst’ from this retail giant is hugely significant in our growth plans.”
She said 1.5m more UK adults are drinking gin than four years ago, representing a huge opportunity for the company.
“With the imminent opening of our new distillery and the switch to a 24-hour production process we can now easily satisfy the demand for the product range; so much so that our first US order will see a 40ft shipping container leave Scotland’s shores.
“With only three other Scottish gins selected by the retailer, it’s great for us to sit alongside the likes of Hendrick’s and Tanquery, and indeed an exciting prospect for the Scottish gin market as a whole.”