Titanic Distillers sinks £5m into growth

Belfast-based Titanic Distillers has landed a £5 million (US$6.3m) equity investment from Whiterock to expand its sales team, drive growth, and establish key distribution channels.

Titanic Distillers is Belfast’s first working distillery since Prohibition, and started production of its single malt whiskey in August 2023. It also produces premium blended Irish whiskey, pot still Irish whiskey, and Irish vodka distilled from sugar beet.

The £5m funding package is comprised of equity investment from Whiterock’s Growth Capital Fund, which makes investments of between £1m and £5m for minority shareholdings in growth and scaling companies from Northern Ireland.

The investment has already been used to hire two senior drinks industry executives to help drive the next phase of the brand’s growth.

Colin Green, former commercial director of Diageo Ireland, has joined to implement the brand’s international sales strategy, while JC Rice, former head of sales for Tennent’s NI, will manage sales in Great Britain and Ireland. Both will oversee the growth of Titanic Distillers existing sales team during 2025.

Stephen Symington, CEO of Titanic Distillers, said: “This equity investment will help fund the next phase of growth for Titanic Distillers. It has already enabled us to bring unrivalled expertise into our team in the shape of Colin and JC, who will drive our sales in new and existing markets.

“Craftsmanship is at the core of Titanic Distillers. We have created a whiskey that the people of Belfast can be proud of and have a unique brand that we are excited to now showcase to customers around the world in a modern and contemporary way. Whiterock are a fantastic partner to have with us as we put the new strategy into action.”

The business also plans to use the new funding to expand its existing footprint across the UK and Europe, as well as move into the US and Asia.

The company expects to formally establish its US team in the coming months, including the appointment of a chief revenue officer, with the initial focus on New York, New Jersey and Pennsylvania – all said to be states with strong Irish heritage – before targeting the rest of the country.

The company also plans to increase its visibility and sales in the travel retail segment of the market through new partnerships with duty free specialists, and to build on existing success in European markets, such as France and Germany, by targeting neighbouring countries such as Belgium and Poland.

David McCurley, director of Whiterock, said: “We are delighted to invest in Titanic Distillers as they continue to grow and expand their presence in the whiskey market. Over the past few years Titanic Distillers has successfully established its brand in both the drinks and tourism industry here in Belfast, achieving impressive growth. It is positive to see the hard work and dedication of the team paying off and we look forward to supporting the company’s plans to enter new markets.”