The Lakes Distillery Co raised £1.6m on Crowdcube at the end if 2017. They will be an English Whisky producer - given time. Now the rumour mill is in overdrive as they release both PR barrels - an IPO before the end of 2018.
The previous PR batch - the investment by the Finnish giant Eera with the issue of 2.5m new shares seems to have evaporated - which can happen with distilling. Recent investments are on the very small side although the valuation from a year ago appears to gone up 10X . It is difficult to tell.
One thing is for sure, the company has a habit of slightly exaggerating its progress - listings with Tesco for example turn to be a local listing in only 19 stores - although of course this may expand. YoY revenue growth of 80%, as stated on Crowdcube, is now reported in the FT as 43% and if you do the math the total revenue of £9m for 2015/16 and 17 as declared in the Crowdcube pitch, doesnt really compute with the 2017 revenue figure of £4.3m on 43% growth from 2016 if you believe their 80% figure.
They also claim to have sold the most expensive bottle of new whisky. So what?
So an IPO raising just £15m before the end of 2018 - given the current UK climate and all. Likely - na. Just more PR to promote their brand whilst they wait for the whisky to do its thing. And do they think that a whisky with zero heritage, distilled in England of all places, is going to compete with the real thing. Pull the other one. Tourism maybe, - whisky, no chance.