Edinburgh-based specialist investor Inverleith LLP has taken a majority stake in the Eden Mill St Andrews craft gin, beer and whisky company on undisclosed terms.
The drinks firm plans to build a whisky distillery in the Fife coastal town, with co-founder and managing director Paul Miller describing it as a “really exciting moment” for the business.
Eden Mill, which was founded by Miller and Tony Kelly in 2012, hopes to open the new distillery in late 2022.
The investment from Inverleith will also enable the company to expand its distribution in the UK and internationally.
Miller said: “This is a really exciting moment for Eden Mill St Andrews. Having secured Inverleith LLP as the majority investor into 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 shares 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 drive and support the next and most significant stage of the Eden Mill journey.”
Following the majority investment by Inverleith, Miller will lead the business as managing director, supported by a new senior executive leadership team and a newly formed board of directors, which is in the process of being established.
Paul Skipworth, managing partner at Inverleith LLP, said: “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.
“We admire the work that Eden Mill has done to date in developing high quality, great-tasting gins and scotch whiskies.”