UK-based The Salford Rum Company has raised nearly £300,000 (US$378,577) from a crowdfunding campaign on Republic Europe, beating its target of £250,000 (US$315,481) in one hour.
Based in Salford, Greater Manchester, the brand is hoping to use the funds to increase capacity at its distillery, expand its national footprint, and put itself ‘firmly on the map for quality spirit’.
It currently produces a range of premium rums, including its flagship spiced rum inspired by Caribbean fruits and spices that arrived on Manchester’s Salford Docks in the 1900s, as well as honey and coffee variants, and a cream liqueur.
The Salford Rum Company was founded in 2018 by school friends Tommy Gaughan and James Harrison with the goal of making a local premium rum that would rival luxury gins.
Since its beginning seven years ago, the company has gone on to open a distillery and brand home in Arch 22 on Viaduct Street, Salford, and is valued at £2.7 million (US$3.4m).
It also has 100% year-on-year sales growth and achieved £1.25m (US$1.5m) net revenue in 2024.
Gaughan said: “We launched Salford Rum with just £5,000 to produce our first 100 bottles and ran it alongside full time jobs for five years. We’ve grown Salford Rum to where it is today without significant investment and could not be prouder.
“We’re raising investment for the very first time to fuel growth even more and to see it go through the roof has been incredible.
“We’ve earned our credentials as a local distiller in Greater Manchester and proved Salford Rum’s national appeal. We’re gearing up for our next step and by securing funding we’re giving our community the chance to buy equity in our business and be part of some truly exciting growth plans.”
Guaghan added that he had expected the fundraising to reach around £200,000 (US$252,392) after the first day and that the brand’s ‘cult following’ and ‘established national footprint’ saw it exceed those expectations.
At the time of publication on 25 February, the brand has received £294,292 (US$371,384) in total from 149 investors. The crowdfund will close on 26 March 2025.
The brand has UK listings in Selfridges, Waitrose, Co-op and Morrisons. It is also available in World Duty Free stores and has expanded internationally to Canada and Hong Kong.
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Author: Rupert Hohwieler
