Crucial Drinks has secured £2m of investment following a recent funding-round, through existing shareholders and an extension to its banking facility with Clydesdale.
The independent drinks company based in Ayrshire has spent the past three years concentrating its efforts on developing two key strategic brands for the company internationally. These include the hugely successful craft whisky portfolio, The Lost Distillery Company and signature rum brand, Six Saints, which is the only rum to be exported from Grenada.
In a relatively short time, founders Scott Watson and Brian Woods have developed an extensive and enviable distribution network for their brands overseas. Crucial is exporting to 40 markets worldwide and has a revenue of over £2m. The speed and ambition with which the company has expanded and continues to grow is testament to the dynamism and entrepreneurial spirit of the team.
The recent investment secured will support Crucial’s plans to drive efficiency, accelerate business growth and continue to build the profile of its brands in key overseas markets such as the Germany, France, Asia and North America.
Commenting on the business strategy, Scott Watson, co-founder of Crucial Drinks said:
“Our combined efforts with Clydesdale and our shareholders has been extremely successful. These funds are vital to us achieving the growth and scale we have planned to extend existing operations in Scotland, while meeting the increasing consumer demand for our artisan brands.
“Clydesdale really understand our sector and make things happen quickly for our business. Our shareholders and bank share our ambition and vision to double the business by 2018.
Linda Paterson, Relationship Manager at Clydesdale also added:
“Crucial Drinks is a highly regarded and innovative drinks exporter based in Scotland. It’s great to see the business grow into its grand new home at Dumfries House.
“Clydesdale Bank is proud to support food and drink businesses achieve their growth ambitions. We look forward to continuing our relationship with Crucial Drinks as they look to expand further in the future.”