Titanic Distillers, Belfast’s first working distillery since Prohibition, has secured a £5m equity investment from Whiterock to expand its sales team, drive growth in new geographic markets and establish key distribution channels.
Titanic Distillers started production in August 2023 of its single malt whiskey under the watchful eye of Head Distiller Damien Rafferty, to accompany its portfolio of premium blended Irish Whiskey, Pot Still Irish Whiskey and Irish Vodka distilled from sugar beet, all made from ingredients that have been carefully selected to produce the best possible flavour.
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. Titanic Distillers previously availed of debt funding from Whiterock in 2022 to support the fitout and launch of the distillery.
The company has already put the new investment to work, hiring two senior drinks industry executives to help drive its next phase of growth. Colin Green, previously commercial director of Diageo Ireland has joined to implement its 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 significant growth of Titanic Distillers existing sales team during 2025.
Irish whiskey has had a renaissance over the last 10 years, and the business plans to use the new funding to expand its existing footprint across the UK and Europe, and also to move into the US and Asia. Titanic Distillers 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 – 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.
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.”
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.”
Titanic Distillers is based in Thompson Dock, which first opened in 1911 to service and accommodate the massive White Star transatlantic liners Olympic and Titanic. The company has also invested almost £8m to convert The Pumphouse into a working distillery. It is the first working distillery in Belfast in almost 90 years and now offers a range of visitor tours and whiskey tasting experiences to commemorate its heritage.