The funding package features an equity investment from Whiterock’s Growth Capital Fund, complementing the debt support Titanic acquired from Whiterock in 2022, which was used to facilitate the fitout and launch of their distillery. This strategic investment underscores the food and beverage industry trends favoring innovative startups.
The funds have already been allocated towards hiring two key executives from the drinks industry: Colin Green and JC Rice. Green, who previously served as commercial director of Diageo Ireland, will spearhead Titanic’s international sales strategy. Meanwhile, Rice, the former head of sales for Tennent’s NI, is charged with managing sales across Britain and Ireland.
Looking ahead, Titanic aims to leverage the new funding to enhance its presence throughout both the UK and Europe while also setting its sights on expansion into the US and Asia. This aligns with global food distribution trends emphasizing market growth beyond local boundaries.
Titanic anticipates establishing its US team in the forthcoming months. Plans include hiring a chief revenue officer with initial efforts targeted at states with significant Irish heritage, such as New York, New Jersey, and Pennsylvania, reflecting a keen understanding of regional food and drink consumer trends.
‘Craftsmanship at the core‘
“This equity investment will help fund the next phase of growth for Titanic Distillers,” stated CEO Stephen Symington.
“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.”
He further emphasized, “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.”
Additionally, Whiterock director David McCurley acknowledged Titanic’s significant growth and visionary plans.
“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,” he remarked.
“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.”
Headquartered in Thompson Dock, which opened in 1911 to accommodate the iconic White Star transatlantic liners, Titanic invested £8 million in transforming The Pumphouse into a fully operational distillery. This investment highlights the trend toward innovative food processing technology in historic spaces.
Production of Titanic’s single malt whiskey commenced in August 2023, supplementing its portfolio that includes blended Irish Whiskey, Pot Still Irish Whiskey, and Irish Vodka produced from sugar beet. Head distiller Damien Rafferty leads the production process, utilizing carefully selected ingredients to ensure optimal flavor, contributing to food and drink sustainability.
