Scottish spirits maker Eden Mill has secured a significant investment from an Edinburgh investment firm to support its development of a carbon-neutral distillery.
Consumer brand investor Inverleith LLP has acquired a majority stake in the St Andrews-based gin and whisky distillery, although the sum exchanged has not been disclosed.
Founded in 2012 by Tony Kelly and Paul Miller, Eden Mill has established itself as a quality craft spirits producer. After building a successful range of gins, the company launched its inaugural single malt whisky in 2018, the first bottle of which sold at auction for a record-breaking £7,100.
It is currently forging ahead with plans to build a new distillery on the University of St Andrews Eden Campus, a site dedicated to zero-carbon and sustainabe businesses and research firms.
The investment from Inverleith LLP will help Eden Mill move forward with the ambitious build, which it is aiming to complete by the end of 2022, as well as expanding the company’s UK and international distribution.
Following the investment, Miller will lead the business as managing director, supported by a new senior executive leadership team and board of directors.
Miller said: “This is a really exciting moment for Eden Mill St Andrews. Having secured Inverleith LLP as the majority investor in the business, we will be able to realise our distillery ambition and unlock the potential of Eden Mill St Andrews as a premium craft gin and premium single malt Scotch whisky here in the UK and overseas.
“We have been looking for an investor who share 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 Eden Mill journey.”
Paul Skipworth, Inverleith LLP managing partner, said: “This is a fantastic addition to Inverleith’s portfolio of premium consumer brands. Having worked closely with the historic and acclaimed University of St Andrews to secure a site on its sustainability campus, Eden Mill St Andrews has one of the most exciting futures within premium gin and whisky and we are delighted to be supporting the realisation of its vision.
“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.”
25 January 2022 – Bethany Whymark