Salford’s iconic spirt company is celebrating smashing their investment in target in just one hour this weekend by raising £250,000.
The Salford Rum Company have been able to find success in gaining the finances in the hope of expanding their national footprint.
The brand expressed that they expected the fundraising to close at a circa of £200,000 – however, they were able to surpass the target and raise more than expected in one hour.
Co-founder Tommy Gaughan explained that this must be as a result of the ‘cult following’ that The Salford Rum Company have gained.
The £250k target was raised on top of its pre-money valuation of £2.7 million, with the brand being stocked in thousands of outlets nationwide, such as Selfridges, Co-Op, JW Lees pubs and The Ivy.
The firm also exports its spiced rums to international markets such as Canada and Hong Kong.
Owner Tommy Gaughan said: “We launched Salford Rum with just £5000 to produce our first 100 bottles and it ran along our full-time jobs for five years.
“We’ve grown Salford rum to where it is today without significant investments, and we could not be more prouder.”
Gaughan continued: “We’ve earned our credentials as a local distiller in Greater Manchester and proved Salford Rum’s national appeal.
“We’re also gearing up for our next step and by securing funding were giving our community the chance to buy equity in our business and be a part of some truly exciting growth plans.”
Since its start in 2018, and has achieved remarkable growth, particularly with its flagship expressions, Salford Rum Dark Spice and Salford Rum Original, which has seen an 100% sales growth in the last year alone.
The firm opened its brand home, bar and distillery in 2022 has proved popular with locals and tourists – and has enabled the Salford Rum Company team to be more agile and creative in spirits development.
The company was created when James and Tommy (rugby-league playing high school friends) took inspiration from the gin category, which was flying due to buckets of innovation and creativity.
In response they set out to make a local premium rum that would rival any luxury gin products on the market, with an enthusiastic celebration of the history, heritage and people of the Salford docks in Greater Manchester throughout the late 1800s and early 1900s.
An era where the city’s Salford Docks grew to be the third largest port in the UK. Salford Spiced Rum takes its flavour inspiration from the rums, fruits and spices from the Caribbean which were landing on British shores for the first time in that bygone time.
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