Hoxton Spirits has secured a seven-figure cash injection to fund its international expansion ambitions and grow its retail presence in the UK.
The London-based spirits producer has received backing £1m from Mayfair stockbroking firm Optiva Securities.
It is understood the Series A investment is for a minority stake in the business.
The funding will underpin Hoxton’s efforts to expand its product range and to grow its marketing activity.
Additionally, the firm is looking to secure a national retail partner in the UK, while expanding further internationally in addition to its existing distribution in Germany and Italy.
Optiva Securities has notable experience in the spirits business, having overseen the £30m London IPO of premium mixer producer East Imperial in June last year.
Hoxton Spirits founder Gerry Calabrese said: “We made great strides thanks to an initial round of seed investment.
“We’ve created a strong core range, brand identity and loyal customer base. We’re established in the UK on-trade and off-trade and distributed in Germany and Italy. It’s time to raise our game by expanding our range, international markets and management team while turbo boosting our marketing activity and brand partnerships.
“Having recently IPO-ed East Imperial, we’re certain we have found the right partner in Christian Dennis at Optiva Securities Limited and look forward to tapping into his expertise to support growth.”
Optiva CEO Christian Dennis has joined Hoxton Spirits Holdings as lead investor and advisor as part of the investment.
He added: “Our recent success with the IPO of East Imperial on the London market gives us a good platform on which to make further investments in the food and beverage sector. We have been highly impressed with Hoxton Spirits’ management team and their ambition to build an international drinks brand that is a true and authentic reflection of Britain today.
“The brand has a clear strong appeal to young aspirational people. The drinks taste delicious as well. I see all the elements of a big success story in the making and am excited to be part of the brand’s journey.”
Hoxton Spirits’ tagline is ‘premium spirits with attitude’, with the brand tying itself to the fashion, music and culture of Hoxton and the surrounding area of East London.
The firm is planning a further Series B fundraising round in early 2023.